“Bechtel to Lead Engineering and Construction Management for Al Rajhi Gold Mine in Saudi Arabia”

The Saudi Arabian Mining Company “Ma’aden” has signed an agreement for engineering, procurement, and construction management services to develop the Al-Rajum Gold Mine project, with a value of up to 391 million Saudi Riyals (approximately 104.3 million US dollars).

This engineering, procurement, and construction management services agreement was signed with both “Bechtel Arabian Saudi Company” (SAPCO) and “Bechtel Australia”.

“Ma’aden” explained in an official statement published via “Tadawul” on Thursday that the mine is expected to produce approximately 3.6 million ounces of gold over 12 years, which is the expected duration of its operational life cycle, with an estimated annual production rate of approximately 300,000 ounces.

The company also indicated that “Bechtel” will provide engineering, procurement, and construction management services under a contract that extends for 39 months, noting that the financial impact of this project will appear after the completion of construction and the start of actual mine operation.

“Ma’aden” seeks to strengthen its position and status in the Saudi gold sector, in line with the goals of Vision 2030, which aims to increase the contribution of the mining sector to the Kingdom’s GDP.