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Mining license granted to Ma’aden
Riyadh, 26th August 2001

 The Ministry of Petroleum and Mineral Resources has approved the granting of a license to the Saudi Arabian mining company, Ma'aden, to explore for copper ore and the accompanying minerals at Sayed Mountain, north east of Mahd-al-dahab, Madinah region, for a period of five years.

Dr Abdullah Al-Dabbagh, the president of Ma'aden, said this development is in line with the company's efforts to develop mining industries in the Kingdom of Saudi Arabia. He noted that the company is currently producing about 1,000 tons of copper a year. He added that investment in the mining sector is promising.

Dr Al-Dabbagh pointed out that the company is planning to increase its copper production to about 1,700 ton per year effective 2003. He said diversification of investment activities of the company is considered as one of the basic principles of the company's policy.

Source: © SPA

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30 August, 2001 03:11:36 PM

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