Maaden announces start of commercial production at Ad Duwayhi mine
Saudi Arabian Mining Company (Maaden) [1211.SE] announced that its subsidiary Maaden Gold and Base Metals Company had started commercial production at its Ad Duwayhi mine as of 1 April. According to the announcement, Ad Duwayhi mine has an estimated average annual production capacity of 180,000 ounces over the lifetime of the mine and estimated reserves of 1.9 million ounces of gold. The financial impact of the commercial operations is expected to show on 2Q2016 financial results. (Tadawul)
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