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A subsidiary of Saudi Arabian Mining Co (Ma'aden) announced Sunday that commercial production at its new bauxite mine and alumina refinery has begun and export of some of this output could take off any time in the coming quarters.
Bauxite mining followed by alumina production at the refinery will reach maximum capacity of 1.8 million tonnes annually by 2017 beginning, stated an official release by Ma'aden. The output will adequately meet Ma'aden's domestic requirement of 1.4 million tonnes of alumina for its aluminium smelter. The surplus, according to the company, can be sold to a third party within the region or abroad.
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Ma'aden owns 74.9 per cent stakes of the subsidiary while the rest 25.1 per cent is owned by the U.S. firm Alcoa. The aluminium producer from the Gulf region said earnings from the new venture would begin to show from the fourth quarter of the current financial year onward.
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