Gold enjoys a special status at Ma'aden as the first commodity ever mined by the company. The company at its inception earned almost all its earnings from gold production. It provided the foundation for our subsequent growth and portfolio diversification.
Ma’aden Base Metals and New Minerals Company (BMNM)
BMNM is a wholly owned subsidiary of Ma’aden. Gold accounts for the majority of BMNM’s revenue, with Copper, Silver, and Zinc accounting for the remainder. In 2022, we reached a total yield of 335,207 oz. of gold from our gold operations.
Gold deposits are located throughout the Arabian Shield Region of Saudi Arabia, which is a large geological area extending from the Red Sea coast to the middle of the country.
Development of the Central Arabian Gold Region is challenging due to its remote location and limited water availability.
To enable its gold operation, Ma’aden developed and operates a 413 km water pipeline, bringing treated water from Taif City in Makkah Province in Saudi Arabia to its mine sites. This environmentally sustainable solution is the first instance of the large-scale use of treated water for industrial purposes in Saudi Arabia.
BNMN operates seven gold mines plus a copper mine in a joint venture with Barrick in Saudi Arabia:
Ad Duwayhi Mine - Ad Duwayhi mine is located in Al Khurmah governorate in Makkah region. It is an open pit mine with a conventional Carbon-In-Leach processing facility. Production commenced in 2016. Ad Duwayhi mine produced 174,799.86 ounces in 2022.
Al Amar Mine - Al Amar mine is located southwest of Qawaia governorate, east of the Arabian Shield. It is an underground mine with a Carbon-In-Leach processing facility. Production commenced in 2009, Al Amar mine produces high-quality gold ore rich in minerals, which is processed into Dore and Copper and Zinc concentrates for export to international markets. Al Amar Mine produced 27,443.42 ounces of Gold in 2022.
Bulghah & Sukhaybarat Mine - Sukhaybarat gold mine is located in the governorate of Aqla al-Saqqar in Al Qassim region, while Bulghah mine is located 70 kilos from Sukhaybarat mine in Al Hinakiyah, one of the governorates in Al Madinah Region, Saudi Arabia.
The two mines are open pit mines. Sukhaybarat Mine is an open pit mine with a Carbon-In-Leach processing facility producing Dore. Higher-grade ore is processed on-site while low-grade ore from the site is transported by trucks to the Bulghah site for Heap Leach Processing and Dore production. Bulghah and Sukhaybarat mines produced a total of approximately 74,372.25 ounces of Gold in 2022.
As Suq Mine - As Suq Mine is an open pit gold mine that commenced production in 2014, using heap leach technology to produce Dore. As Suq Mine produced 17,042.39 ounces of Gold in 2022.
Mahd Ad Dhahab Mine - Mahd Ad Dhahab (translated as ‘cradle of gold’) is an underground mine located 167 km SE from Al Madinah, Saudi Arabia.
Crude was exploited under King Abdul Aziz in the gold cradle by the Saudi Arabian Mining Syndicate between 1939 and 1954 and reopened under King Fahd in 1983 up to the present.
The mine contains more than 60 km of tunnels and excavations are carried out at a vertical depth exceeding 400 m. The site has a raw processing plant with a Carbon-In-Leach processing facility. The ore gold cradle mine is produced in processed into Gold Dore, Copper, and silver concentrates, and the mine's production was 29,566.34 oz of gold in 2022.
Mansourah and Massarah Mine - Mansourah and Massarah Mine is located in Al Khurmah governorates in Makkah Region. It is our newest, largest, and most technologically advanced gold mine in Saudi Arabia.
The mine consists of the Mansourah and Massarah resources, which are being developed as conventional open-pit mines. The plant employs Carbon-In-Leach and Pressure Oxidation Processes and autoclave technologies for ore gold production.
This mine is equipped with cutting-edge mining, processing, and environmental sustainability technologies.
Mansourah and Massarah reached a major milestone for the first gold in September and produced 11,982.84 oz. of gold in 2022.
Ma’aden Barrick Copper Company (MBCC)
MBCC is a joint venture investment between Ma’aden and Barrick, to operate Jabal Sayid underground Copper Mine. Production commenced in 2016 and the produced Copper Concentrate is exported to the international market. In 2022, a total of 2.732 million tons were processed at a grade of 2.67% and with a recovery rate of 93.8% resulting in 150.7 million pounds of copper.