SAUDI ARABIA

Ma'aden awards operation contract of Mansourah, Masarrah gold mines

June 10, 2021

RIYADH — The Saudi Arabian Mining Company (Ma'aden) has announced signing a contract to operate Mansourah and Masarrah gold mines to conduct digging works, removing unstable rocks from the ceiling and sidewalls, loading, transfer, unloading, analyzing mineral residues, pumping surface water, excavators works and all relevant activities to the two mines to meet the production targets of Ma’aden safely.

Mansourah and Masarrah gold mines represent the biggest project for mining gold so far at Ma’aden, where the total investment in the scheme stands at around USD880 million, and the project is considered the latest among other six operational ventures for the company.

Construction works witness continuous progress in the project that, upon completion, will contribute to benefiting greatly from the enormous mineral resources in the Kingdom of Saudi Arabia, which will play a role in realizing the Saudi Vision 2030 in the mining sector.

Mansourah and Masarrah mines and an affiliated factory are scheduled to reach their maximum capacity in 2023 to contribute to the production of 25 percent of gold and helping realize the strategic goal in increasing the local production to a sustainable one million ounces of gold annually.

This investment will enhance the contribution of minerals in the development of the local content, where 2020 witnessed awarding 74 percent of contracts of the private supply chain through local providers, as work is ongoing to further increase this percentage. — SPA


June 10, 2021
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