| Element List | Explanation |
|---|---|
| Date of Contract Award | 2019-04-29 Corresponding to 1440-08-24 |
| Contract Value | SAR 2,272.5 million (USD 606 million) |
| Contract Details | The lump sum turnkey contract includes complete engineering, procurement, construction, pre-commissioning, commissioning, start-up assistance and training services. |
| Related Parties | None |
| Additional Information | Please note that the cost of the project is about/ Approximately (USD 880 million). |
Mansourah Massarah Project will produce an average of 250,000 ounces of gold per year throughout the life of mine. Construction is planned to start from the date of signing the contract.
It is expected that the initial/pilot production will occur on Q2,2022 and the commercial production will take place in Q3,2022.
The company will announce in due course the financing details and any further information related to the project.
Ma’aden Gold and Base Metals Company is wholly owned by the Saudi Arabian Mining Company (Ma’aden)
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