Title: Saudi Arabia: Mining, Minerals and Fuel Resources
Headings: Saudi Arabia: Mining, Minerals and Fuel Resources
Saudi Arabia: Mining, Minerals and Fuel Resources
Overview of Resources
Metals
Fossil Fuels
Investment
Sources
G.P. Thomas
Citations
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Content: CIA Factbook. Metals
Ma’aden and its subsidiaries Ma’aden Gold and Base Metals Co. (MGBM) and Saudi Company for Precious Metals are involved in exploration activities to locate precious metals and related minerals at many sites. MGBM currently operates five gold mines in Saudi Arabia and since 1988 has produced more than 4 million ounces of gold. KEFI Minerals, a gold and copper exploration company, has claimed to have located high grade gold and silver in the country after conducting several surveys. This discovery is likely to attract many investors. Mahd ad Dahab, which means Cradle of Gold, is one of the oldest mining sites in Saudi Arabia. The country has also opened many new mines such as the As-Suq and Ad Duwayhi. A 740,000 Mt/yr capacity aluminum smelter has been constructed in Ras Az Zawr by the joint venture of Ma’aden and Alcoa Inc. of USA and is slated to start functioning in 2013. Al Masane Al Kobra Mining Co. (AMAK), which is owned by local investors and the Arabian American Development Co. of USA, had been involved in the Al Masane project till 2010 when it granted a 5-year contract for underground mine development and operations to China National Geological and Mining Corp. in 2011. The surface plant at the mine has been designed to produce 51,000 t/yr of zinc concentrate, 35,000 t/yr of copper concentrate, and a dore capable of containing 6,000 kg/yr of silver and 200 kg/yr of gold.