Maaden starts trial production at Jabal Sayid copper mine

31/12/2015 Argaam

Saudi Arabian Mining Co. (Maaden) has started initial production of copper at the Jabal Sayid mine owned by its affiliate, Maaden Barrick Copper Co. (MBCC), the company said in a filing to Saudi bourse, Tadawul.

 

MBCC, owned equally by Maaden and Canada's Barrick Gold Corp., will have an estimated annual production capacity at the Jabal Sayid site of 45,000 to 60,000 tonnes of copper in concentrate, the statement said.

 

Jabal Sayid is located 120 km south east of Madinah and 50 km north east of Maaden’s Mahd Adh Dhahab gold mine.

 

The financial impact will be booked once commercial production begins, which is expected in the first quarter of 2016, Maaden added.

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