Which US presidential candidate does gold prefer?
Gold loves chaos and should be hitting new highs, especially with inflation coming down and with it, two rate cuts likely before year’s end.
Saudi Arabian mining company Ma’aden and Stockholm-headquartered Hexagon have partnered to launch of the Middle East’s first digital mine.
Under the partnership, Hexagon’s life-of-mine technology solutions will be deployed at the Mansoura Massarah mine, combining sensor, software, and autonomous technologies to enhance efficiency, productivity, quality and safety across the mine’s operations.
“We are excited to help bring to life this important shift toward digitization of the mine, one that holistically leverages intelligent data and automation across workflows to minimize the impacts of mining while simultaneously improving safety, productivity and operational efficiency,” Nick Hare, president of Hexagon’s mining division said in a statement.
Located in the central Arabian region, the Mansourah Massarah represents Ma’aden’s largest and most technologically advanced gold mine. It consists of the Mansourah and Massarah resources, which are being developed as conventional open-pit mines.
The Mansourah deposit is estimated to hold 27.7 million tonnes of proven and probable ore reserves grading 5.06 g/t gold, while the reserves estimates for the Massarah open-pit stand at 17.3 million tonnes grading 1.99 g/t gold.
Anchoring the open-pit mines is a 4-million-tonne-per-year plant that employs carbon-in-leach and pressure oxidation processes and autoclave technologies for ore production. The project reached first gold pour in September 2022, and is expected to produce 250,000 oz. of gold annually over an estimated mine life of 12 years.
“This partnership strongly aligns with our digitization strategy, as we work to use the vast amounts of data that we mine to make our mine safer and more efficient,” Duncan Bradford, Ma’aden’s EVP of base metals and new metals said. “We look forward to working closely with Hexagon to implement and utilize the region’s first digital mine to elevate Mansourah Massara’s operations.”
