Ma’aden Gold licensed to explore gold, metals in Makkah

Ma’aden Gold licensed to explore gold, metals in Makkah

Saudi Arabia's Ministry of Industry and Mineral Resources issued decrees on offering Ma'aden Gold and Base Metals Co. (MGBM) licenses to explore gold ore and related metals on several sites at Shakhtalia, Makkah. According to the ministerial decrees published on the official gazette Umm Al-Qura on Feb. 12, MGBM, a fully-owned subsidiary of Saudi Arabian Mining Co. (Ma'aden), is licensed to explore on eight sites (33, 34, 35, 36, 37A, 38 and 39). The licenses last five years, starting from Dhul-Hijjah 11, 1441 AH. The company earlier obtained five-year licenses from the ministry to explore metals on eight Shakhtalia sites (16, 18, 20, 21 and 22), according to data compiled by Argaam. MATT SMITH: Bumper government spending helped to ease Bahraini residents' financial difficulties during the pandemic, but the kingdom faces a tough challenge to reduce its deficit and bolster state revenue without harming an economic recovery. Bahrain's GDP shrank 4. 9 percent in 2020, the International Monetary Fund (IMF) estimated, as the pandemic dampened domestic consumption and lowered oil revenue. This contraction would have been more severe without a 4. 5 billion Bahraini dinar ($11. 97 billion) state support package, which equates to about one-third of annual GDP. The