Riyadh – Mubasher: Saudi Arabian Mining Company (Ma’aden) said that its 100% subsidiary Ma’aden Gold and Base Metals Co has been awarded a SAR 2.27 billion ($606 million) contract to set up the Mansourah Massarah gold mine factory.

The deal involves the implementation of engineering, procurement, construction, pre-commissioning, commissioning, start-up assistance, and training services to establish the factory, according to a bourse filing.

The plant’s pilot production is expected to begin in the second quarter of 2022, while its commercial output is expected to start in Q3-22.

The total cost of the project stands at SAR 3.3 billion ($880 million), Ma’aden, the Gulf’s largest miner, noted. 

The Mansourah Massarah mine’s average of production amounts to 250,000 ounces per year.