Saudi Arabian Mining Company (Ma'aden) said one of its units, Ma’aden Gold & Base Metals, has signed a SR2.3 billion ($613 million) contract for the Mansorah & Massarah Gold project located in the Central Arabia, one of the richest geological areas in the kingdom.
Mansourah Massarah Project will produce an average of 250,000 ounces of gold per year throughout the life of mine, said a statement from the company.
Construction has already started and the initial/pilot production is likely to occur in the second quarter of 2022 and the commercial production in the very next quarter, it added.-TradeArabia News Service
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