Ma'aden Commissions Hanwha to Build New Gold Mine

February 25, 2013 – Saudi Arabian Mining Company (Ma’aden) has signed a contract with South Korean company Hanhwa to build a new gold mine in Ad Duwayhi, located in the Central-West Arabian region.  The contract, valued at $272 million (SR1.02 trillion), includes completing detailed engineering studies, procurement, construction, commissioning and assistance with starting the mine’s operations, and training staff.  The mine will be completed in 2016 and is slated to produce 180,000 ounces of gold a year.

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