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Ad Duwayhi Gold Mine
Overview
The project includes the development of the Gravity-CIL gold processing plant on Ad-Duwayhi gold mine site.
Maaden's subsidiary Maaden Gold & Base Metals Co. signed a SAR 1.018 billion contract with Hanwha Engineering and Construction Co. to develop the project.
The plant is set to be functional by end of 2015. Ad Duwayhi Gold Mine Facility will produce roughly 180,000 ounces of gold per annum, and over 1.6 million ounces over mine lifetime.
Project Information
- Mining and metals > metal production
- The Saudi Arabian Mining Company (Maaden) owns the full shares of Maaden for Gold and Base Metals.
- The company announced the signing of a contract with the South Korean Hanwa Engineering and Construction Company, amounting to 1018.0 million riyals, to construct a factory in Al-Duwaihi Mine Q1 2013.
- The company has signed a financing agreement with the Saudi Industrial Development Fund worth 1.2 billion riyals.
- The company announced that the pilot operation of the mine will begin October 8, 2015.
- Mine reserves are estimated at 1.9 million ounces of gold as at December 31, 2015.
- The commercial operation started in the beginning of April 2016, and the financial impact will appear during the second quarter of the same year.
Owners
Related Parties
Financing Sources
Project Developments
Maaden says output begins at gold mine, delayed at copper mineArgaam03/04/2016
Maaden puts Ad Duwayhi mine under trial runArgaam08/10/2015
Maaden inks SAR 1.2 bln credit deal with SIDFArgaam26/04/2015
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