A new copper-zinc plant may appear in Saudi Arabia
Recently, an agreement was signed between the two large enterprises. The first Saudi company Modern Mining Holding. It refers to the state industrial group Modern Industrial Investment Holding Group. The second company was made by a Singaporean multinational trading company Trafigura. According to the signed document, the companies will create a joint venture. It will deal with the construction of a large metallurgical complex. This is the plant, which produces copper, zinc and lead.
According to plan, the venture will be located in Saudi Arabia. For development of the selected territory in the industrial area. It is called Ras Al-Khair Mineral City. Is this area on the coast of the Persian Gulf. More specifically, it is 60 km to the North from the port of Jubail. The future enterprise will be characterized by a high production capacity. It will produce 400 thousand tons of copper per year. It will also be 200 thousand tons of zinc. Finally will be the production of 55 thousand tons of lead.
The new plant will produce refined copper. This will be the first manufacturer in Gulf countries. Question about resource base has also been solved. It will act as local sources of copper ore. In addition, will be used imported from abroad concentrate. Implementation of the project is estimated at $ 2.8 billion. As for the timing, nothing really is not reported. It is expected that construction work will begin in the first half of next year. The project relates to the strategic concept of the Saudi Vision 2030. It was developed with the aim of advancing the development of the industry. The same applies to the mining sector. Its realization will allow to become less dependent on the country from oil exports.