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Saudi's Ma'aden says unit begins commercial production at copper mine

Published 2016-06-30, 08:32 a/m
© Reuters.  Saudi's Ma'aden says unit begins commercial production at copper mine
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1211
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DUBAI, June 30 (Reuters) - An affiliate of Saudi Arabian
Mining Co 1211.SE (Ma'aden), the Gulf's largest miner, has
started commercial production at the Jabal Sayid copper mine,
Ma'aden said on Thursday.
The mine is operated by Maaden Barrick Copper Co, which is
jointly owned by Ma'aden and Canada's Barrick Gold Corp
ABX.TO , according to a statement to Riyadh's bourse.
It will produce about 45,000 tonnes of copper annually, with
its estimated 635,000 tonnes of reserves expected to take 16
years to mine.
The financial impact of the mine's activity will be
reflected in Ma'aden's third-quarter earnings, the statement
added.

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