Maaden starts commercial production at gold mine

By Bizclik Editor

Saudi Arabia's largest mining group, Maaden, has announced the start of commercial production at Ad Duwayhi gold mine by its subsidiary, Maaden Gold & Base Metals Company.

The company said the effect of the mine on its financial results will become apparent from the second quarter of 2016.

Ad Duwayhi mine has an estimated average annual production capacity of 180,000 ounces of gold over the life expectancy of the mine and that mine production capacity will gradually ramp up over the year to reach 100 percent by the end of 2016. Noting that as at December 31, 2015, the mine had reserves of 1.9 million ounces of gold.

Follow @BusinessRevME


Featured Articles

SAP creates new EMEA region and announces new President

SAP has announced it has appointed a new President for a newly-created EMEA region, aiming to make the most of the opportunities of cloud and AI technology

How SAP is facilitating continuous business transformation

Technology giant SAP has expanded its portfolio with the acquisition of LeanIX, a leader in enterprise architecture management (EAM) software

Siemens and Microsoft: Driving cross-industry AI adoption

To help businesses achieve increased productivity, Siemens and Microsoft are deepening their partnership by showcasing the benefits of generative AI

Sustainability must become central to corporate strategy


The endless benefits of putting your people first

Leadership & Strategy

Working from anywhere: SAP uncovers secret life of employees

Human Capital