SAUDI ARABIAN MINING COMPANY (MAADEN) ANNOUNCES THE BEGINNING OF COMMERCIAL PRODUCTION AT JABAL SAYID COPPER MINE OF ITS AFFILIATE MAADEN BARRICK COPPER COMPANY (MBCC)
Further to its announcement on the Tadawul website on 25/06/1437H (corresponding to 03/04/2016G), Saudi Arabian Mining Company (Maaden) announces the beginning of commercial production at the Jabal Sayid copper mine of its affiliate Maaden Barrick Copper Company (MBCC) starting from Friday 26/09/1437H (corresponding to 01/07/2016G).
The estimated average annual production of Jabal Sayid will be over 45,000 tonnes of copper in concentrate per year. Jabal Sayid has a mine life of about 16 years with estimated reserves of about 635,000 tonnes of copper.
The financial impact of this commercial production will be reflected in the Companys 2016 third quarter financials.
Maaden Barrick Copper Company is a limited liability company, jointly owned 50:50 by Maaden and Barrick Gold Corporation.
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