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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
- Mining and metals > Mining
- 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.
- In Q1 2023 investor presentation, the company expected Mansourah and Masarrah mines to start commercial operations in H2 2023, and Ar Rjum mine to start commercial operations in 2026 with an annual capacity of 200,000 ounces.
-
In Q3 2023 investor presentation, the company revealed that Al Mansoura and Al Masara regions are expected to start commercial operation in Q4 2023.
-
On January 18, 2024, the company announced that Mansourah-Massarah gold mine and factory started commercial operations.
Owners
Related Parties
Project Developments
Overview of key delayed projects, expansions of Saudi-listed firms in 2022Argaam Special03/01/2023
Key projects, expansions planned by Tadawul-listed companies in H2 2023Argaam Special13/07/2023
Industry minister unveils over $32 bln investments in 9 new projects, EV battery metals plant Argaam06/05/2022
Maaden starts commercial ops at Mansourah-Massarah gold mineArgaam18/01/2024
Maaden working to extract lithium from seawater: CEOArgaam26/10/2023
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