{"id":104223,"date":"2025-12-30T00:00:00","date_gmt":"2025-12-30T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?p=104223"},"modified":"2026-01-18T18:41:21","modified_gmt":"2026-01-18T18:41:21","slug":"road-network-overhaul-enters-phase-3-maaden-hancock-jv-to-explore-makkah-gold-belt","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/12\/30\/road-network-overhaul-enters-phase-3-maaden-hancock-jv-to-explore-makkah-gold-belt\/","title":{"rendered":"Road network overhaul enters phase 3 + Maaden-Hancock JV to explore Makkah gold belt"},"content":{"rendered":"

\n

Riyadh kicks off phase 3 of its road network overhaul<\/p>\n

Riyadh\u2019s road network is getting a boost:<\/strong> The Royal Commission for Riyadh City launched six projects worth over SAR 8 bn in the third phase of the Riyadh Main and Ring Road Axes \u200eDevelopment Program, it said in a statement<\/a>. The projects are expected to be delivered in three to four years.<\/p>\n

The projects cover <\/strong>the Jeddah Road, which will see the development of 14 bridges and five main lanes, as well as multiple developments Taif Road, Thumamah Road , the northern section of both of King Abdulaziz Road, and Othman bin Affan Road. Phase two is also getting a polish, with the commission aiming to enhance traffic capacity by 40-60% through engineering enhancements across eight congested locations.<\/p>\n

BACKGROUND-<\/strong> The first phase was launched in August 2024<\/a> and the second in February<\/a>2025<\/a> \u2014 with a total value of SAR 21 bn across 12 projects \u2014 as part of the Ring Roads Axes Development Program<\/a>, which kicked off in 2019. The program includes upgrades to some 500 km of roads in Riyadh.<\/p>\n

\n

Maaden, Hancock fast-track Makkah gold belt with JV<\/p>\n

The Saudi Arabian Mining Company (Maaden) and Australia-based <\/strong>Midana Exploration <\/strong>launched a JV with an initial capital of USD 5 mn<\/strong> to explore Makkah\u2019s Nabitah Al Duwaihi gold belt, according to a disclosure to Tadawul<\/a>. Maaden owns a majority stake of 50.1% in the new entity and Hancock the remaining 49.9%.<\/p>\n

BACKGROUND-<\/strong> The Industry and Mineral Resources Ministry awarded nine exploration licenses for 25 sites in the Nabitah Al Duwaihi belt in September<\/a>. The companies and consortia awarded the licenses pledged to spend a combined SAR 156 mn on exploration at the sites.<\/p>\n","protected":false},"excerpt":{"rendered":"

The new projects are expected to be delivered in three to four 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