Barrick Gold Completes Joint Venture Agreement With Ma'aden For Jabal Sayid Mine

(RTTNews) - Barrick Gold Corp. (ABX, ABX.TO) Wednesday said it has completed the 50/50 joint venture agreement with Saudi Arabian mining company Ma'aden, for Jabal Sayid copper mine in Saudi Arabia.

Jabal Sayid is expected to begin shipping low-cost concentrate in early 2016.

When fully operational, the mine is expected to produce 100 million pounds of copper in concentrate per year in its first full five years, with the potential to increase to 130 million pounds per year, the firm said.

"Jabal Sayid is a high-quality mine that will be contributing new, low-cost copper production to Barrick in just over a year's time,"said Jim Gowans, Co-President.