(MENAFN) Saudi Al Masane Al Kobra Mining's chairman, Talal Al Shaer, announced that the company would spend USD399 million to establish a smelter, reported Saudi Gazette.
Recently, the firm has recommenced operations at its Al Masane copper mine, located in the Saudi province of Najran, after being closed for decades.
The mine's zinc and copper reserves are estimated to be at 4.9 million tons, with its ores containing 97 gram of gold and 31 gram of silver per ton.
The mine produces 35,000 tons of copper and 45,000 tons of zinc on annual basis at the current time.
It is worth noting that recently, Al Masane Al Kobra Mining has exported 8,000 tons of zinc to South Korea and 6,000 tons of copper to India.
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