Saudi Arabia.. "Ma'aden" signs a contract to develop the Rujum gold mine worth 391 million riyals

The Saudi Arabian Mining Company "Ma'aden" has signed a contract to provide engineering, procurement, and construction management services to develop the Rujum gold mine, worth 391 million riyals (approximately 104.3 million dollars).

The signing was done with the companies "Bechtel Saudi Arabia" and "Bechtel Australia", with the contract duration extending for 39 months. The financial impact of the project is expected to begin after the completion of construction work and the actual operational start.

"Ma'aden" expects the mine to produce about 3.6 million ounces of gold during its 12-year operational life, with an annual rate of up to 300,000 ounces.

This step is part of "Ma'aden"'s strategy to enhance its presence in the Saudi gold sector, in line with the goals of Saudi Vision 2030 to increase the mining sector's contribution to the GDP.

The company announced in August 2025 that its board of directors approved the final decision to invest in the development of the mine, which is classified as a second-tier asset in the Central Arabian gold region.