Saudi Arabia’s Ma’aden awards major contract for $880m gold mine projects

Unnamed international consortium awarded operation of the Mansourah and Masarrah gold mines

Saudi Arabian Mining Company (Ma’aden) has awarded a major contract to an international consortium for the operation of the Mansourah and Masarrah gold mines, which together represent the biggest projects for mining gold so far at Ma’aden, with a total investment of $880 million.

In a statement, the company said the scope of work for the project includes digging, removing unstable rocks from the ceiling and sidewalls, loading, transfer, unloading and analysing mineral residues in addition to pumping surface water, excavators works and all relevant activities to the two mines to meet the production targets of Ma’aden safely.

The Mansourah and Masarrah gold mine projects are the latest among other six operational ventures for the company, it added.

Ma’aden said these two mines, along with an affiliated factory, are expected to reach their maximum capacity in 2023 thus contributing to the production of 25% of gold and helping realise the company’s strategic goal of increasing the local production to a sustainable one million ounces of gold annually.

This investment will enhance the contribution of minerals in the development of the local content, where 2020 witnessed awarding 74% of contracts of the private supply chain through local providers, as work is ongoing to further increase this percentage, it concluded.


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