Article: Saudi Arabia: Saudi Maaden to spend $25 mln on magnesite plant.

Byline: shiv03

State-controlled Saudi Arabian Mining Co (Maaden) 1211.SE said on Monday it signed an agreement with local firm Olayan Descon to build a magnesite processing plant.

The plant will cost 95 million riyals ($25.3 million) and produce 140,000 tonnes per year of magnesite over the next 20 years, Maaden said in a statement on the bourse's website.

Maaden, Saudi Arabia's largest mining firm by market value, did not say how much a stake it will hold in the joint-venture.

The plant will turn white mineral magnesite into caustic calcinated magnesia which can be used in agriculture, construction, and fuel additives and dead burned ...

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