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FINANCIAL NEWS
Saudi Maaden, Alcoa aluminium smelter to start ops in December
21 Nov 2012
(MENAFN) Saudi Arabian Mining Company (Maaden) is set to start initial production at its Ras al-Khair aluminium smelter in December, Reuters reported.
Maaden and Alcoa teamed up in 2009 to build a USD10.8 billion aluminium complex at Ras al-Khair on the Gulf coast, which is fast becoming a Saudi mining hub.
The smelter’s output will be increased gradually to 740,000 tonnes annually, Maaden said.
Maaden and Alcoa are currently developing a bauxite mine with the capacity to produce 4 million tonnes of the raw material per year, in addition to a metal rolling mill with a capacity of up to 460,000 tonnes.
Official from both partners expected phase 1 of the project, which includes the smelter and the rolling mill, is expected to be completed next year, while the mine and a refinery are expected to open in 2014.
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