1 Min Read
DUBAI, Oct 2 (Reuters) - Saudi Arabian Mining Co (Ma'aden) said on Sunday that a subsidiary had started commercial production at a new bauxite mine and alumina refinery which could begin exporting some of its output in coming months.
Production will reach maximum annual capacity of 1.8 million tonnes of alumina by early 2017, meeting Ma'aden's domestic requirement of 1.4 million tonnes for its smelter and allowing the surplus to be sold elsewhere in the region and internationally, the company said.
The subsidiary is 74.9 percent owned by Ma'aden and 25.1 percent owned by U.S. firm Alcoa. The Saudi company said earnings from the venture would begin to have an impact on its results in the fourth quarter of this year. (Reporting by Andrew Torchia. Editing by Jane Merriman)