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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Copper ops up and moving at Anglo’s Quellaveco

Anglo American, following the receipt of final regulatory clearances and after successful testing, has started long-awaited commercial operations at its Quellaveco mine in Peru. Chief executive Duncan Wanblad said the mine, which is expected to produce 300,000 tonnes annually of copper equivalent volume on average over the first decade of life, could add as much as 10% to its global…

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Las Pelambres prepping for desalination plant start

Chilean miner Antofagasta has confirmed it will start operations at its new desalination plant – part of its $2.2 billion expansion of the Los Pelambres complex – this year, as facility construction is 86% complete and marine works are 87% done. The plant at the port of Punta Chungo, Los Vilos, was designed for water management amid an extensive drought…

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