Jabal Sayid Copper Mine

Overview

A 50/50 joint-venture project between Saudi Arabian Mining Co. and Barrick Gold to develop and operate the cooper mine in Jabal Sayid, located 120 km southeast of Madinah, with an average annual production capacity, upon completion, ranges from 45,0000 to 60,0000 tons of copper concentrates, at an investment cost of about SAR 810 million. It has a mine life of about 16 years with estimated reserves of about 635,000 tons of copper concentrates.

Copper is used in a wide range of applications such as building, construction, electrical industries, automobile industry and many other industries.

Project Information

Industry
  • Mining and metals > Mining
810.00 (Million Riyal) * Estimate:
45-60k tpa
Saudi Arabia
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Jabal Sayid
Completed
2014
Q3 2016
  • The Saudi Arabian Mining Company (Maaden) and the Canadian company Barrick Gold Corporation own 50% of Maaden and Barrick Copper Company.
  • The company announced July 13, 2014 the partnership agreement with the Canadian company (Barrick) in order to establish a limited liability company that will acquire, develop and operate the copper project in Jebel Said.
  • The experimental production of the mine started in December 2015, and commercial operation in July 2016, and the financial impact will appear during  Q3 of the same year.
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Gallery

Owners

Name
Percentage
Ma'aden Barrick Copper Company
100.00%

Related Parties

Name
Role
Saudi Arabian Mining Company
Indirect Owner
Barrick Gold Co.
Indirect Owner

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