Saudi Arabia

Alujain And Canadian Company To Develop Saudi Copper Mine

Saudi Arabia's Alujain (60%) and Canada's Even Resources (40%) have signed amemorandum of understanding to develop a recently-discovered copper mine, some340 kms. north of Jiddah. The Canadian company has estimated the mine's depositsat 90mn tons of copper ore (1.54% concentration) capable of producing annuallysome 639mn kgs. of copper for 12 years.

Alujain, which is capitalized at SR173mn...