Hancock Prospecting attended the round nine licence award ceremony with representatives from its joint venture company, Saudi Arabian miner Ma’aden, at the Future Minerals Forum (FMF) on 14 January.
In December last year, the two companies orchestrated a joint venture to advance exploration work over a number of licenced areas in the Kingdom of Saudi Arabia.
The joint venture secured five exploration licences in the Nabita Ad-Duwayhi Gold-Belt in Saudi Arabia for initial exploration.
Hancock Executive Chairman Gina Rinehart says the company is excited by Saudi Arabia’s Vision 2030 strategy that intends to “build a world leading mining industry”.
“Our company group brings substantial experience across exploration, project development and operations, including the rare distinction of building the US$10 billion ($14.94 billion) mega Roy Project both on time and on budget, a mega project built successfully in record time and including some of the world’s largest mining equipment,” Rinehart says.
“In Australia, we strive to be the best mining company. We will also be working in Saudi Arabia with great enthusiasm.”
Hancock CEO Garry Korte says the company is excited to begin working in “such a pro mining country”.
“Driven by our Chair’s vision and enthusiasm, Hancock has a deep commitment to innovation, technology, and continuous improvement – all key to our endeavours to also bring success in the Saudi Arabian mining industry,” Korte says.
Maaden CEO Bob Wilt says the company has been actively ramping up exploration across Saudi Arabia.
“Working in partnership with Hancock, this program will speed up discovery,” Wilt says.
“It also ensures we can build, develop, and operate at pace and scale, all while developing a talent pipeline and a global mineral hub.”
As reported by Mining.com.au, critical minerals were a key focus of the FMF26 program, garnering government attention from all areas of the world.
The mining industry has shifted its question from whether specific countries are able to meet these demands with local resources to whether policy settings can convert geological advantage into sustained commercial success without distorting capital allocation or crowding out private investment.
FMF’s theme for the 2026 program was ‘Dawn of a Global’, suggesting a shift in how the minerals sector positions itself globally. The theme represents two meanings for FMF – a commitment by countries to collaborate and a development-driven agenda.
Mining.com.au attended the Future Minerals Forum this year, acting as a media partner for the conference.
Write to Maddison Elliott at Mining.com.au
Images: Mining.com.au
