Engr. Khalid Al Mudaifer (second from left), Ma'aden President and CEO, shakes hands with the senior executive of Hanwha Engineering and Construction Company after the signing of agreement. RIYADH – Ma'aden Gold & Base Metals Company, an affiliate of Ma'aden Company, has signed a SR1.018 billion contract with South Korean Hanwha Engineering and Construction Company to construct a gravity-CIL gold processing plant at the Ad Duwayhi Gold Mine site currently under development in an area between Riyadh and Taif. Engr. Khalid Al Mudaifer, Ma'aden President and CEO, said the contract includes completing detailed engineering, procurement, construction, pre-commissioning, commissioning, start-up assistance and training services. The Ad Duwayhi Gold Mine Facility is a key part of Ma'aden's program to develop several new gold mine facilities in the central western region of Saudi Arabia which contains much of the Kingdom's gold rich ore deposits. “The plant will process approximately 2 million tons of ore per annum from the adjacent open pit mine, and is scheduled for completion by the end of 2014. It is estimated the Ad Duwayhi golf mine facility will produce approximately 180, 000 ounces of gold per annum, and more than 1.6 million ounces over the life of the mine,” Al Mudaifer said. The project will help create approximately 144 direct jobs, 200 indirect jobs in the surrounding area, and an estimated 600 jobs with contractors and service suppliers. In addition, Ma'aden will contribute to regional sustainability and enhance education quality by providing mining training courses in cooperation with Missouri University of Science and Technology and TVTC. “The signing of this contract represents an important early milestone in our program to expand development of Saudi Arabia's gold ore deposits, and this project will make a substantial contribution to Ma'aden's overall gold production capacity,” Al Mudaifer further said. – SG
