Maaden says commercial ops begin at copper mine

03/07/2016 Argaam

Commercial operations began at the Jabal Sayid Copper Mine on Friday, Saudi Arabian Mining Co. (Maaden) said in a statement to Tadawul.

 

The mine is operated by Maaden Barrick Copper Co, which is equally-owned by Maaden and Canada's Barrick Gold Corp.

The mine will produce over 45,000 tons of copper annually. Reserves stand at nearly 635,000 tons, while it's life is estimated at 16 years.

 

The mining firm added that it expects the related financial impact to reflect on results in Q3-2016.

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