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RELATED ARTICLES: Maaden, Alcoa to build US $10.8bn aluminium plant | Ma'aden-Alcoa lands $1bn loan for mine, refinery | GCC railway network to be operational by 2018
Financing for the second phase of development of Saudi Arabia’s first integrated aluminium complex and related infrastructure, sponsored by Saudi Arabian Mining Company (Ma'aden) and Alcoa Inc, has been approved.
Both the mine and refinery are being developed by Ma'aden Bauxite and Alumina Company (MBAC).
MBAC is a joint venture between Ma'aden and Alcoa Inc. Once complete, the entire project will be the largest fully integrated aluminium complex in the world, with a refinery, smelter and food-grade can sheet rolling mill located at the Ras Al Khair industrial site (previously known as Ras Az Zawr) in north-eastern Saudi Arabia, fed by bauxite sourced from the Al Ba'itha mine.
Phase 1 of the development covered the financing and construction of the smelter and rolling mill. Phase II involved the financing of a bauxite mine to be developed at Al Ba'itha in Saudi Arabia and an associated alumina refinery, with the combined cost of development being $3.58bn.
The bauxite mine will be the first such mine in Saudi Arabia, and is set to extract up to 4,250,000 tonnes of bauxite ore per annum. The refinery will have an initial capacity of 1,800,000 tonnes of refined alumina per year.
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