Sierra Nevada Gold forms Saudi subsidiary to fast-track copper/gold project
ASX-listed Sierra Nevada Gold has established a wholly owned Saudi Arabian subsidiary, Arabian American Minerals (AAM), providing a dedicated in-country platform to advance its copper/gold exploration strategy and accelerate development at the As Safra project.
The formation of AAM allows Sierra Nevada to hold exploration licences, engage local contractors, and directly execute exploration programmes in compliance with Saudi regulatory requirements. The move also positions the company to meet in-country participation rules and align with the Kingdom’s Vision 2030, which seeks to develop a globally competitive mining sector.
Executive director Peter Moore said the establishment of AAM was a “foundational step” in executing the company’s Saudi strategy, providing a fully operational platform just as drilling at As Safra is poised to start.
“The company is moving rapidly toward drilling, with no anticipated hindrance from regional geopolitical developments,” Moore said. “AAM positions SNX to operate at pace, build strong local partnerships, and fully capitalise on the district-scale potential of As Safra.”
Sierra Nevada expects the grant of As Safra exploration licences within two to four weeks, with ongoing geophysical and geochemical programmes to continue over the following six to eight weeks. AAM will serve as the operational vehicle to execute these programmes at scale.
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