SAUDI ARABIAN MINING COMPANY (MAADEN) ANNOUNCES THAT ITS SUBSIDIARY, MAADEN GOLD & BASE METALS COMPANY, HAS SIGNED A FINANCING AGREEMENT WITH THE SAUDI INDUSTRIAL DEVELOPMENT FUND (SIDF)
The Saudi Arabian Mining Company (Maaden) announces that its wholly-owned subsidiary, Maaden Gold & Base Metals Company, has signed a financing agreement with the Saudi Industrial Development Fund (SIDF) today 26/04/2015G (corresponding to 07/07/1436h) for the amount of SAR 1,200 Million to fund the development of Ad Duwayhi mine.
The loan will be repaid in 14 semi-annual installments starting from 15/10/1438H and will continue for seven years. The loan is financially guaranteed by Saudi Arabian Mining Company (Maaden)
Any additional information will be provided in due course.
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