Saudi Arabia to invest in mining assets

State-owned Saudi Arabian Mining Co. (Ma’aden) has agreed to form a joint venture with the kingdom’s sovereign wealth fund to invest in mining assets globally, reported Reuters. Ma’aden will own 51% in the venture while the Public Investment Fund will own 49%, the company said in a regulatory filing. The miner said the new venture’s strategy “will initially be to…

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Fluor taking Greece for Skouries EPCM deal

Engineering group Fluor has been selected by Eldorado Gold subsidiary Hellas Single Gold Member for an engineering, procurement and construction management (EPCM) contract at the Skouries gold-copper operation in the Halkidiki Peninsula, Greece. Fluor’s scope of work includes infrastructure, non-process facilities, process area and tailings filtration. The contract, booked in the firm’s fourth quarter, is worth US$845 million. Fluor’s Vancouver…

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