Saudi’s Biggest Gold Mine Opens in Mecca

Saudi’s Biggest Gold Mine Opens in Mecca

Saudi’s Biggest Gold Mine Opens in Mecca

The Al-Duwaihi Gold mine is owned and operated by the Saudi Arabian Mining Company (Ma’aden)

The biggest Gold mine in Saudi Arabia is set to be launched in Mecca, it was reported last Sunday.

The Governor of Mecca, Prince Khalid Al-Faisal aunched the Al-Duwaihi Gold Mine and Factory and other mining infrastructure projects in the region last Monday, local daily Arab News reported.

Al-Duwaihi, the biggest Gold mine in the Kingdom, is owned and operated by the Saudi Arabian Mining Company (Ma’aden), the report added.

The company is also developing infrastructure projects in the region including the construction of a 450km pipeline to transport treated wastewater from Taif to Al-Duwaihi to treat the ore, and a 117km road linking Al-Duwaihi with the Riyadh-Taif highway.

The pipeline marks the first instance of the large-scale use of treated waste water for industrial purposes in the Kingdom, according to the company.

Ma’aden’s total investments in the mine and associated infrastructure projects is estimated to exceed SAR1.5-B, Arab News said.

The projects are anticipated to create 150 direct job opportunities for Saudis and 200 indirect employment openings through contractors, the report added.

Ma’aden Gold and Base Metals Company (MGBM), a wholly owned subsidiary of Ma’aden, undertakes the company’s development and operation of Gold and base metals.

Apart from the new mine, MGBM operates 6 Gold mines in Saudi and is carrying out an extensive precious and base metals exploration development program in the Kingdom.

Stay tuned…

 

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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