Central Arabian Gold Region Project

Overview

The project includes the development of a new gold mining zone at the Central Arabian Gold Region (CAGR), including three mines: Mansourah, Masarrah and Ar Rjum.

Feasibility studies put the annual productivity of Mansourah and Masarrah mines at 250,000 ounces. Ar Rjum mine is under study and its expected capacity is 157,000 ounces
per annum.

 

 

Project Information

Other
  • Mining and metals > Mining
3300.00 (Million Riyal) * Estimate:
407k ounce/year
Saudi Arabia
-
the Central Arabian Gold Region
Under Construction
2014
2023
  • Maaden Gold & Base Metals Co. is wholly owned by MAADEN.
  • The company signed a SAR 2.27 billion contract with Outotec and Larsen & Toubro to provide the complete engineering and procurement services to build the factory.
  • The company signed a contract to establish the factory in the Mansoura and Masarah mine for gold production in April 2019 at a value of 2.3 billion riyals, with trial production to start in the second quarter of 2022 and commercial production in the third quarter of the same year.
  • The company announced that the construction of Mansourah & Massarah gold mine plant is almost complete. The trial operations are expected to start in Q4 2022.
  • In its Q3 2022 investor presentation, the company revealed that it completed the inaugural gold pour, and commercial operation is expected to start in H1 2023.
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Owners

Name
Percentage
Ma’aden Gold and Base Metals Company
100.00%

Related Parties

Name
Role
Saudi Arabian Mining Company
Indirect Owner
Outotec Co.
Contractor

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