Maaden unit begins commercial production at copper mine
Maaden unit begins commercial production at copper mine
Jeddah - Arab Today
An affiliate of Saudi Arabian Mining Co. (Maaden), the Gulf’s largest miner, has started commercial production at the Jabal Sayid copper mine, Maaden said.
The mine is operated by Maaden Barrick Copper Co, which is jointly owned by Maaden and Canada’s Barrick Gold Corp, according to a statement to Tadawul.
It will produce about 45,000 tons of copper annually, with its estimated 635,000 tons of reserves expected to take 16 years to mine.
The financial impact of the mine’s activity will be reflected in Maaden’s third-quarter earnings, the statement added.
Source: Arab News
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