Australian mining magnate Gina Rinehart is extending her empire into the Middle East after securing five gold exploration licences in Saudi Arabia through her Hancock Prospecting subsidiary, Midana Exploration, in partnership with the kingdom’s largest miner, Maaden
The move marks a significant step for the WA-based billionaire as she diversifies beyond iron ore into a global mining portfolio spanning rare earths, lithium, and now gold.
Rinehart praised Saudi Arabia’s "pro-mining policies" and its ambitious Vision 2030 strategy, which aims to establish mining as a key pillar of national growth, noting the Kingdom’s commitment to building a world-leading industry.
Under the December-formed joint venture, Hancock and Maaden will focus on the Nabita Ad-Duwayhi gold belt, adjacent to an existing Maaden mine, targeting opportunities amid a year of record-breaking gold prices that have fueled global investor interest.