Riyadh - Mubasher: Saudi Arabian Mining Company (Ma’aden) has signed a contract with Saudi Arabian Bechtel Company (SABCO) and Bechtel Australia PTY Limited.
The 39-month deal was inked on 22 October at a value of SAR 391.10 million ($104.3 million), according to a bourse disclosure.
Under the agreement, SABCO and Bechtel Australia will provide engineering, procurement, and construction management (EPCM) services for the Al Rjum mine project.
The Al Rjum mine is expected to yield 3.60 million ounces of gold over 12 years, averaging 300,000 ounces annually.
The project’s financial impact will be realized upon the start of construction and plant operations.
In the first half (H1) of 2025, Ma’aden reported a 73.09% leap in net profits to SAR 3.47 billion, compared with SAR 2 billion.
