AMAK to Commence Commercial Operations at Moyeath Project in First Quarter of 2024
Saudi mining firm AMAK has announced that it will commence commercial operations of its Moyeath project in the first quarter of 2024.
The company is currently in the final stages of construction and preparation, and pilot operation is expected to begin in the fourth quarter of this year.
The Moyeath orebody plant is located in the Najran region of Saudi Arabia, and AMAK has received a gold exploration license covering an area of 78.07 sq.
km, as well as licenses to explore for zinc and copper in an area spanning over 138.64 sq.
km.
The company plans to carry out relevant studies within the regulatory period to ensure the availability of raw materials.
AMAK has also reported a decline in net profit and revenue in the first quarter of this year, but an increase in the value of gold and zinc sales.
The company is planning to increase its production of copper and zinc by 40% and 80%, respectively, by December 2023.
The Saudi private sector has been instrumental in making the country's mining sector the third pillar of the national economy, with an estimated 5,300 sites of mineral resources worth SR5 trillion.
The Moyeath orebody plant is located in the Najran region of Saudi Arabia, and AMAK has received a gold exploration license covering an area of 78.07 sq.
km, as well as licenses to explore for zinc and copper in an area spanning over 138.64 sq.
km.
The company plans to carry out relevant studies within the regulatory period to ensure the availability of raw materials.
AMAK has also reported a decline in net profit and revenue in the first quarter of this year, but an increase in the value of gold and zinc sales.
The company is planning to increase its production of copper and zinc by 40% and 80%, respectively, by December 2023.
The Saudi private sector has been instrumental in making the country's mining sector the third pillar of the national economy, with an estimated 5,300 sites of mineral resources worth SR5 trillion.
