Maaden said to develop Mansoura, Massara gold mine

State-controlled Saudi Arabian Mining Co. (Maaden), the GCC’s largest mining company, is planning to develop the Mansoura and Massara gold mine, Reuters reported citing industry sources.

The firm said the project is still under evaluation, but declined to give further details, the news agency said.

In its 2016 annual report, Maaden said it was in the process of completing a feasibility study into the Mansoura and Massara project in central Saudi Arabia.

The mine is expected to be completed by the end of 2020. The engineering, procurement, construction contract is expected to be awarded in the fourth quarter, Reuters reported, citing a source.

The greenfield project will include the mine, processing plant and infrastructure. It will process 4 million tonnes per year of blended sulphide and oxide ore feed with an expected gold exportation of 3.75 million ounces per year.

Maaden operates six gold mines in the Central Arabian Gold Region, in western Saudi Arabia. It also recently started operating the Ad Duwayhi gold mine.