Maaden to double gold production

Maaden to double gold production
Updated 26 November 2016

Maaden to double gold production

Maaden to double gold production

JEDDAH: Saudi Arabian Mining Co. (Madden) plans to double gold production by 2020, said its CEO Khaled Al-Mudaifer.
Gold output will reach 500,000 ounces by 2020 from about 200,000 ounces this year, he was quoted as saying in a Bloomberg report.
Aluminum production, through a joint venture with Alcoa in the US, has potential to increase to 1 million metric tons from 760,000 tons this year, he said in the report.
Maaden has created 10,000 jobs in the past five years and plans to add another 3,000 for its phosphates complex in Waad Al-Shamal, Al-Mudaifer said.