Maaden says Ad Duwayhi mine to account for 43% of its gold production

Saudi Arabian Mining Company (Maaden), the GCC region’s largest mining company, said in an annual report that the Duwayhi mine would account for 43 percent of its gold production over the next five years.

Trial operations began at Ad Duwayhi last October, with no date mentioned yet for the launch of commercial production. The mine is expected to produce an average of 180,000 ounces of gold annually.

Maaden is also in the process of completing a feasibility study into the Mansoura and Massara mine projects, the report added.

The Saudi-listed miner produced a record 164,000 ounces of gold during 2015, a six percent year-on-year (YoY) rise, although production fell below its target due to a delayed production launch at Ad Duwayhi.