Saudi's Ma'aden says unit begins commercial production at copper mine

Thu Jun 30, 2016 8:32am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

DUBAI, June 30 (Reuters) - An affiliate of Saudi Arabian Mining Co (Ma'aden), the Gulf's largest miner, has started commercial production at the Jabal Sayid copper mine, Ma'aden said on Thursday.

The mine is operated by Maaden Barrick Copper Co, which is jointly owned by Ma'aden and Canada's Barrick Gold Corp , according to a statement to Riyadh's bourse.

It will produce about 45,000 tonnes of copper annually, with its estimated 635,000 tonnes of reserves expected to take 16 years to mine.

The financial impact of the mine's activity will be reflected in Ma'aden's third-quarter earnings, the statement added. (Reporting by Matt Smith; Editing by David French)