Ma'aden to launch trial production at Ad Duwayhi gold mine
"This is a crucial step towards developing Ma’aden’s portfolio with an additional large-scale gold project that provides meaningful shareholder value as well as sustainable local community development,” Khalid Al-Mudaifer, Ma’aden’s CEO and president, said.
The mine, Ma’aden’s largest, is a chief component of the company’s plan to develop several new gold mine facilities in the central western region of Saudi Arabia.
When running at full capacity, the mine is expected to produce 180,000 ounces of gold annually, bringing Ma'aden's gold production to about 340,000 ounces of gold each year.
Ma’aden plans to implement a long-term strategy of stable growth to deliver both market responsiveness and high impact project development. About 30 percent of the new mine's workers will be Saudi employees.