Ma'aden awards contract for Saudi gold mines' operation
RIYADH, June 12, 2021
Saudi Arabian Mining Company (Ma'aden) has awarded a major contract to an international consortium for the operation of Mansourah and Masarrah gold mines, which represent the biggest project for mining gold so far at Ma’aden with its total investment hitting $880 million.
The scope of work includes digging, removing unstable rocks from the ceiling and sidewalls, loading, transfer, unloading and analysing mineral residues in addition to pumping surface water, excavators works and all relevant activities to the two mines to meet the production targets of Ma’aden safely.
Mansourah and Masarrah gold mines' projects are the latest among other six operational ventures for the company.
Maaden said these two mines along with an affiliated factory are expected to reach their maximum capacity in 2023 thus contributing to the production of 25 per cent of gold and helping realize the strategic goal in increasing the local production to a sustainable one million ounces of gold annually.
This investment will enhance the contribution of minerals in the development of the local content, where 2020 witnessed awarding 74 per cent of contracts of the private supply chain through local providers, as work is ongoing to further increase this percentage, it added.-TradeArabia News Service
