Feb 24, 2013
Riyadh, Saudi Arabia 25th February 2013:
Ma’aden Company announced yesterday that its affiliate, Ma’aden Gold & Base Metals Company has signed a contract worth SR1.018 billion with Hanwha Engineering and Construction to construct a Gravity-CIL Gold Processing Plant at the Ad Duwayhi Gold Mine site currently under development in a remote area of the desert between Riyadh and Taif.
Engr. Khalid Al Mudaifer, Ma’aden President and CEO reiterated that this contract includes completing detailed engineering, procurement, construction, pre-commissioning, commissioning, start-up assistance and training services. The Ad Duwayhi Gold Mine Facility is a key part of Ma'aden's program to develop several new gold mine facilities in the central western region of Saudi Arabia which contains much of the Kingdom's gold rich ore deposits. “The Plant will process approximately 2 million tons of ore per annum from the adjacent open pit mine, and is scheduled for completion by the end of 2014. It is estimated the Ad Duwayhi Golf Mine Facility will produce approximately 180 thousand ounces of gold per annum, and more than 1.6 million ounces over the life of the mine,” Al Mudaifer said.
The project will help create approximately 144 direct jobs, 200 indirect jobs in the surrounding area, and an estimated 600 jobs with contractors and service suppliers. In addition, Ma’aden will contribute to regional sustainability and enhance education quality by providing mining training courses in cooperation with Missouri University of Science and Technology and TVTC.
"The signing of this contract represents an important early milestone in our program to expand development of Saudi Arabia's gold ore deposits, and this project will make a substantial contribution to Ma'aden's overall gold production capacity” said Engr. Khalid Al-Mudaifer, Ma’aden President and CEO.