Saudi Arabian Mining Company (Maaden) said commercial operations began on Oct. 1, 2016 at the bauxite mine and the alumina refinery of its subsidiary Maaden Bauxite and Alumina Co.

 

Production will be increased gradually to reach the designed capacity of 1.8 million tonnes of alumina by the beginning of 2017 against smelter requirement for 1.4 million tonnes, the company said in a statement to Saudi bourse, Tadawul.

 

The surplus will be sold in the regional and international markets, it added.

 

The relevant financial impact will be reflected on earnings of Q4-2016.

 

Maaden Bauxite and Alumina Co. is 74.9 percent owned by Maaden and 25.1 percent owned by US Alcoa.

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Popular Links

Quick Links

Join Us

Argaam.com Copyright © 2024, Argaam Investment, All Rights Reserved
Call Request