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Saudi Arabian Mining Company (Maaden) expects to complete Phases 1 and 2 of its Phosphate 3 complex in 2025 and 2027, respectively, the company said in its latest second quarter 2022 investor presentation.
The $6.4 billion complex in Ras Al-Khair industrial City will increase Maaden’s phosphate fertiliser production capacity by three million tonnes per year to a total production capacity of nearly nine million tonnes per year, the company had said in a statement in 2018.
The presentation also noted that commercial production at Maaden’s $880 million Mansourah and Massarah gold mines will start in the first half of 2023, with commissioning activities already underway. The project, located in Al Khurmah governorate in the Makkah region, will have a production capacity of 250,000 ounces per year.
The Saudi stock exchange-listed company is currently studying the capacity expansion of the Mahd Ad Dhahad and Ar Rujum gold mines by 200,000 ounces per annum each with the study for the former expected to be completed by mid-2025 and the latter in 2026.
The Mahd Ad Dhahad mine produced approximately 21,000 ounces of gold in 2019, according to the company website.
(Writing by Senthil Palanisamy; Editing by Anoop Menon)
