Saudi Arabia’s Almasane Al Kobra Mining Company (AMAK) has identified nearly 11 million tonnes of mineral resources in the Najran region, based on early internal studies released through a Nov. 25 Tadawul filing. The mix includes copper, zinc, gold, and silver, offering a hefty addition to the Kingdom’s growing mining portfolio under Vision 2030.

The find, reported on by several publications, spans AMAK’s Al-Hijra and Jabal Qarn licenses, a combined 274 square kilometers of terrain granted in Sept. 2024. Despite covering less than 10% of the licensed area with drilling, the company has already logged more than 27,000 meters of exploration since February 2025. Early optimism suggests room for substantial upside as work continues, though detailed ore grades have not yet been disclosed.

AMAK has stressed that the estimates are preliminary and not yet compliant with international reporting standards. Further surveys and drilling planned through 2026 will determine whether the resource can be economically developed. For now, the lack of clarity on metal concentrations means the true value of the discovery sits firmly in the “to be determined” column.

Still, the news was enough to send AMAK’s stock higher on the day of the announcement. Over the past month, AMAK has jumped more than 33% against the greenback. Industry analysts noted that the site’s proximity—roughly 100 kilometers—to AMAK’s existing processing facilities may streamline any future development and lower costs if the resource proves viable.

Read more: Goldman Sachs Sees 20% Upside for Gold in 2026 as Silver Hits Its Latest Peak

The timing is notable, coming amid Saudi Arabia’s drive to unlock an estimated $2.5 trillion in untapped mineral wealth across the Arabian Shield. Copper and zinc play central roles in renewable energy technologies, and gold and silver remain cornerstones of global commodities markets. Bitcoin advocates, however, have already seized the moment to highlight their favorite contrast: while discoveries like this keep expanding gold’s supply narrative, bitcoin’s fixed 21 million coin cap isn’t budging.

Bitcoiners immediately ragged on precious metals, noting that bitcoin’s scarcity is known and never changing.

Saudi officials have positioned mining as a core pillar of the Kingdom’s diversification strategy, aiming to expand the sector’s economic footprint and attract foreign investment. Recent discoveries across the Arabian Shield—ranging from copper extensions to promising gold zones—signal growing momentum as exploration ramps up.

As with all early-stage mining announcements, analysts caution that environmental reviews, regulatory approvals, and market forces will shape the project’s fate. For now, AMAK’s discovery stands as another data point in Saudi Arabia’s long-term bet on mining as a driver of growth.

• What did AMAK discover in Najran? AMAK identified nearly 11 million tonnes of early-stage copper, zinc, gold, and silver resources in the Najran region.
• How far along is the exploration? Drilling has covered less than 10% of the license area, with more work planned through 2026.
• Why is this discovery significant for Saudi Arabia? It aligns with Vision 2030’s strategy to expand the mining sector and diversify economic output.
• How does this compare to bitcoin’s supply? Bitcoin advocates note that unlike gold, bitcoin’s fixed 21 million supply never grows, regardless of new mineral discoveries.

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