Saudi Arabian Mining Company "Ma'aden" announced yesterday that its affiliate Ma'aden Company For Gold and Base Metals has signed a contract for the establishment of Al-Dowaihi Plant for Gold Production with a company from South Korea at a cost of more than SR One billion. Ma'aden Executive President Eng. Khalid bin Saleh Al-Mudaifer said in a press statement today that the plant will refine annually about two million tons of crude from Al-Dowaihi mine in Makkah region scheduled to operate in 2015, expecting the plant will produce approximately 180,000 ounces of net gold at an annual average, which is equivalent to 1.6 million ounces during the initial expected life of the mine.
