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Our Business

 

Gold and Base Metals

 

Gold enjoys a special status at Ma'aden as the first commodity mined by the company. It provided the foundation of our subsequent growth and diversification into the base metals. The Mahad Ad Dhahab Mine (translated as ‘cradle of gold’) is perhaps our most well-known operation. Its history reaches back to the beginning of recorded time, with evidence suggesting that the operation was actively mined as early as 3000 years ago.

Ma’aden Gold and Base Metals Company (MGBM)

MGBM is a wholly owned subsidiary of Ma’aden. Gold accounts for the majority of MGBM's revenue, with Copper, Silver and Zinc accounting for the remainder.

Gold deposits are located throughout the Central Arabian Gold Region of Saudi Arabia, which is a large geological area extending from the Red Sea coast to the middle of Saudi Arabia.

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 450 km water pipeline, bringing treated wastewater from Taif City in Makkah Province in Saudi Arabia to mine sites. This environmentally sustainable solution is the first instance of the large-scale use of treated waste water for industrial purposes in Saudi Arabia.

MGBM operates six Gold Mines:

Ad Duwayhi Mine - Ad Duwayhi Mine is our newest open pit mine with a conventional Carbon-In-Leach processing facility. Production commenced in 2016 and the asset is currently Ma’aden’s largest producer, with approximately 263,000 ounces of Gold produced in 2019.

Al Amar Mine - Al Amar Mine is an underground mine with a Carbon-In-Leach processing facility. Production commenced in 2009, producing Dore and Copper and Zinc concentrates for export to international markets. Al Amar Mine produced approximately 28,000 ounces of Gold in 2019.

Bulghah & Sukhaybarat Mine - Sukhaybarat Mine is an open pit mine with a Carbon-In-Leach processing facility producing Dore. Oxide ore from the site is transported by trucks to Bulghah site for Heap Leach Processing and Dore production. Bulghah’s open pit oxide grade ore is processed on site by Heap Leach Processing, while higher grade ore is transported by trucks to the Sukhaybarat plant to produce Dore. Bulghah & Sukhaybarat mines produced a total of approximately 62,000 ounces of Gold in 2019.

As Suq Mine - As Suq Mine is an open pit gold mine that commenced production in 2014, using heap leach technology to produced dore. As Suq Mine produced approximately 19,000 ounces of Gold in 2019.

Mahd Ad Dhahab Mine - Mahd Ad Dhahab Mine is an ancient gold mine dating back 3,000 years. Modern underground production commenced in 1988. The Carbon-In-Leach plant produces dore and concentrate. Mahd Ad Dhahab Mine produced approximatly 21,000 oz of Gold in 2019.

Mansourah-Massarah Mine Project - Mansourah-Massarah is a new gold project currently in execution. The project consists of the Mansourah and Massarah resources, which are being developed as conventional open pit mines. The plant will employ Carbon-In-Leach and Pressure Oxidation Processes technology for Gold production. When in full production, Mansourah-Massarah is expected to contribute 250,000 ounces of gold per year.

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. Jabal Sayid Mine produced approximately 132,400 pounds of Copper in 2019.