KEFI Gold and Copper Secures Conditional Approval for Jibal Qutman Gold Project in Saudi Arabia

Key Facts

1KEFI Gold and Copper received conditional approval to proceed with Stage 1 development of the Jibal Qutman Gold Project in Saudi Arabia.

2The estimated capital program for Stage 1 of the project is approximately US$87 million.

KEFI Gold and Copper received conditional approval to proceed with Stage 1 development of the Jibal Qutman Gold Project in Saudi Arabia. Benzinga reported that the estimated capital program for this initial stage of the project is approximately US$87 million. The approval represents a significant regulatory milestone for the company's expansion into the Saudi Arabian mining sector at the Jibal Qutman site.

The progress of the mining project in a key regional market comes with defined capital expenditure requirements. In a broader economic context, Saudi Arabia is scheduled to release its annual GDP Growth Rate data on November 1, 2026, with forecasts expecting a reading of -5.8% compared to the previous -4.7%.