Saudi Arabian Mining Company (Maaden) shared updates on its ongoing and new projects as part of its first quarter 2023 results announcement on Monday.   

The mining giant said the first phase of its Phosphate 3 complex project is progressing toward Final Investment Decision (FID).

In January, Maaden awarded the Engineering, Procurement and Construction Management (EPCM) services contract worth 1.043 billion Saudi riyals ($278 million) for Phase 1 to WorleyParsons Arabia and JESA International.

Ammonia 3 is ramping up towards nameplate capacity [1.1 million tonnes per year] while the wider Phosphate 3 project is on track.

Aluminium pot relining at Ras Al Khair is progressing as planned and is expected to be complete by the first half 2023.

Mansourah-Massrah, the company’s largest gold project to date, remains set to commence commercial production in the second half of 2023. It will have an average production capacity of 250,000 ounces per annum.

(Writing by D Madhura; Editing by Anoop Menon)

(anoop.menon@lseg.com)