Saudi news

AMAC signs a multi-year sales agreement with Glencore International

Al-Masane Al-Kubra Mining Company (AMAC) announced the signing of a multi-year sales agreement with Glencore International AG to sell all of its zinc and copper concentrates produced from mining operations in Saudi Arabia.

The company stated in a statement on “Saudi Arabia’s Tadawul” today, Thursday, that under this agreement, “Glencore” will provide technical services related to the company’s mining operations.

It said that the delivery of copper and zinc concentrates under the agreement will start immediately and for a period of 24 months, subject to renewal.

The company added that Glencore will work under the current agreement to support the company’s production operations to achieve the maximum possible value from the product flow and improve its production efficiency, and thus achieve the best possible value for the products.

AMAC indicated that the financial impact of these improvement measures will appear during the fourth quarter of the current year.

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