Saudi Arabia’s mining sector recorded another active week, with new gold exploration developments, a major copper-gold drilling programme and fresh corporate and regulatory updates.
Key developments include Peako Limited completing the acquisition of six Saudi gold exploration projects, Sierra Nevada Gold preparing a 25,000-metre drilling campaign at the As Safra copper-gold project, and new exploration plans disclosed by Resource Minerals International.
The week also brought progress on Knauf International’s proposed acquisition of United Mining Industries, alongside new announcements from the Saudi Geological Survey.
Mining Saudi Arabia is also preparing to participate as a Media Partner at Egypt Mining Forum 2026, taking place in Cairo on 28–29 September.
Mining Saudi Arabia Joins Egypt Mining Forum 2026 as Media Partner
Mining Saudi Arabia will participate as a Media Partner at Egypt Mining Forum 2026, which takes place on 28–29 September at The St. Regis New Capital in Cairo.
Hosted by Egypt’s Ministry of Petroleum and Mineral Resources, the forum will bring together government representatives, mining companies, investors, explorers and technology providers from across the mining industry.
The event’s strategic and technical conference programmes will focus on mineral exploration, mining investment, project development and opportunities across Egypt and the wider Arabian-Nubian Shield.
Mining Saudi Arabia will provide coverage of key announcements, industry discussions and developments emerging from the forum.
Explore Egypt Mining Forum 2026 and register your visit.
Event details: Official Egypt Mining Forum website.
Peako Completes Acquisition of Six Gold Projects in Saudi Arabia
Peako Limited announced on 24 September that it had completed the acquisition of a 100% interest in six gold exploration projects covering approximately 862 km² in Saudi Arabia’s Central Arabian Gold Region.
The acquisition expands Peako’s exposure to gold exploration opportunities in the Kingdom as companies continue to assess the mineral potential of the Arabian Shield.
Peako reported surface sampling results of up to 22.9 g/t gold at Matar and 9.1 g/t at Karak. At Wadi Jarir, surface samples reached up to 41.5 g/t gold along an approximately eight-kilometre vein corridor.
These figures represent surface sampling results rather than drilling results, and further exploration will be required to determine the extent of mineralisation below ground.
With a drill rig secured and geophysical work approaching completion, Peako plans to begin its maiden drilling campaign in Saudi Arabia in October.
Sierra Nevada Gold Launches 25,000-Metre As Safra Drilling Programme
Sierra Nevada Gold announced on 24 September that mobilisation had started for a 25,000-metre Phase 2 drilling programme at its wholly owned As Safra copper-gold project in Saudi Arabia.
The programme represents one of the key Saudi copper exploration developments announced during the week.
Around 8,000 metres of drilling will focus on defining the Central Copper Zone, while another 7,000 metres will test potential extensions to known mineralisation.
A further 10,000 metres has been allocated to testing new exploration targets.
The programme also includes approximately 13.5 kilometres of trenching and sampling to support target definition and geological interpretation.
Three drill rigs are expected to be operating by 30 September, with the number planned to increase to five by mid-November.
Initial assay results are expected in November, while the drilling programme is scheduled to continue through March 2027.
Resource Minerals International Outlines Saudi Exploration Plans
Resource Minerals International highlighted its Saudi Arabia exploration programme in its FY2026 annual report released on 23 September.
According to coverage of the report, the company plans approximately 5,000 metres of drilling at Wadi Salamah and another 5,000 metres at Shaib Marqan.
Mapping, geological interpretation and exploration target refinement are also continuing across the projects.
The annual review additionally covered the company’s Saudi joint-venture interests and previously announced fundraising activities supporting its exploration strategy.
RMI reported approximately A$2.12 million in cash at the end of the financial year. The report also noted its dependence on future capital raising to support continued activities.
Knauf’s United Mining Industries Offer Moves Forward
Knauf International’s proposed acquisition of United Mining Industries reached another regulatory milestone during the week.
Saudi Arabia’s Capital Market Authority announced on 21 September that it had approved the proposed timetable and publication of Knauf International’s offer document to acquire all shares in United Mining Industries.
The approval allows the offer process to advance but does not mean that the acquisition has been completed.
The CMA also clarified that its approval relates to compliance with applicable legal and regulatory requirements and should not be interpreted as an endorsement of the commercial merits of the proposed transaction.
Saudi Basalt Receives International Heritage Stone Recognition
Saudi Arabia’s geological heritage also received international recognition during the week.
On 20 September, the Saudi Geological Survey announced that the International Union of Geological Sciences had recognised basalt from Saudi Arabia’s volcanic harrats as an IUGS Heritage Stone.
According to the SGS, the designation is the first of its kind for Saudi Arabia.
The recognition highlights the scientific, geological and heritage significance of the Kingdom’s natural stone resources and volcanic landscapes.
Saudi Geological Survey Activates Digital Reporting Service
The Saudi Geological Survey also announced the activation of a digital reporting service in cooperation with the Digital Government Authority through the Amer Centre.
The service enables beneficiaries to submit complaints, reports and suggestions digitally.
The initiative is designed to improve communication, service quality and responsiveness as the SGS continues to expand its digital services.
Saudi Mining Sector Continues to Attract Exploration Activity
This week’s developments reflect continued exploration and corporate activity across Saudi Arabia’s mining industry.
Gold and copper remained prominent, with Peako preparing its first Saudi drilling campaign and Sierra Nevada Gold launching a major new phase of exploration at As Safra.
At the same time, companies including Resource Minerals International continue to advance exploration planning, while regulatory and geological institutions support wider development across the sector.
Mining Saudi Arabia will continue following exploration programmes, mining investment, licensing developments, corporate activity and government announcements shaping the Kingdom’s mining sector.
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