Posted in | News | Copper | Mining Business

Barrick and Saudi Arabian Ma'aden Complete JV for Jabal Sayid Copper Mine

Barrick Gold Corporation today announced that it has completed the 50/50 joint venture agreement with Saudi Arabian Mining Company (Ma'aden) for the Jabal Sayid copper mine in Saudi Arabia. Jabal Sayid is expected to begin shipping low-cost concentrate in early 2016.

When fully operational, the mine is expected to produce 100 million pounds of copper in concentrate per year in its first full five years, with the potential to increase to 130 million pounds per year.

"We are excited to move this project into production, working in collaboration with our new partners at Ma'aden," said Kelvin Dushnisky, Co-President.

"Jabal Sayid is a high-quality mine that will be contributing new, low-cost copper production to Barrick in just over a year's time," said Jim Gowans, Co-President.

Jabal Sayid had 1.4 billion pounds of copper in proven and probable reserves as of December 31, 2013. Further exploration work will be carried out within the mining license area and the exploration license area surrounding the mine with the aim of extending the mine life.

Citations

Please use one of the following formats to cite this article in your essay, paper or report:

  • APA

    Barrick Gold Corporation. (2019, February 17). Barrick and Saudi Arabian Ma'aden Complete JV for Jabal Sayid Copper Mine. AZoMining. Retrieved on November 06, 2024 from https://www.azomining.com/News.aspx?newsID=10802.

  • MLA

    Barrick Gold Corporation. "Barrick and Saudi Arabian Ma'aden Complete JV for Jabal Sayid Copper Mine". AZoMining. 06 November 2024. <https://www.azomining.com/News.aspx?newsID=10802>.

  • Chicago

    Barrick Gold Corporation. "Barrick and Saudi Arabian Ma'aden Complete JV for Jabal Sayid Copper Mine". AZoMining. https://www.azomining.com/News.aspx?newsID=10802. (accessed November 06, 2024).

  • Harvard

    Barrick Gold Corporation. 2019. Barrick and Saudi Arabian Ma'aden Complete JV for Jabal Sayid Copper Mine. AZoMining, viewed 06 November 2024, https://www.azomining.com/News.aspx?newsID=10802.

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Your comment type
Submit

While we only use edited and approved content for Azthena answers, it may on occasions provide incorrect responses. Please confirm any data provided with the related suppliers or authors. We do not provide medical advice, if you search for medical information you must always consult a medical professional before acting on any information provided.

Your questions, but not your email details will be shared with OpenAI and retained for 30 days in accordance with their privacy principles.

Please do not ask questions that use sensitive or confidential information.

Read the full Terms & Conditions.