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Article: Maaden-Olayan magnesite processing joint venture.(Brief article)
- Article from:
- Saudi Economic Survey
- Article date:
- August 27, 2009
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Saudi Arabian Mining Company (Maaden) said it has signed an agreement with local firm Olayan Descon to build a magnesite processing plant. The plant will cost SR 95 million and produce 140,000 tons per year of magnesite over the next 20 years, Maaden said in a statement. Maaden, Saudi Arabia's largest mining firm by market value, did not say how much a stake it will hold in the jointventure.
The plant will turn white mineral magnesite into caustic calcinated magnesia which can be used in agriculture, construction, and fuel additives and dead burned magnesia which can be used for glass and refractory production.
The contract with Olayan Descon covers both ...