AMAK as the first mechanized no-flare project implemented by domestic experts in the area which is sponsored by the NISOC.
The AMAK project gathers harmful associated gases, then dehydrates them and injects them to the gas pipeline network to be sweetened at gas processing plants for consumption.
Together they started building the current AMAK facility.
Last week AMAK finally made its first sale and loaded the first ship with ore.
AMAK Status Update:-- AMAK has received an initial tranche of $35 million from a totalbridge loan in the amount of $85 million.
AMAK has completed financingarrangements to fund the $85 million with a Saudi French bank whilepre-closing conditions for the SIDF (Saudi Industrial DevelopmentFund) permanent loan are being met.
The second amount, $46 million,can be drawn after AMAK receives clearance for the first payment fromthe SIDF.
In anticipation of a potentially stronger price environment arising from the many zinc mine closures announced in recent months, options have been secured on the remainder of the zinc inventory allowing AMAK
to price any, or all, of the payable metal inventory at any time through to year-end 2016.
promised to help the poor in the border city of Najran.
Since 2013, Waleed Al Khaja is functioning as the Managing Director of his family-owned business, AMAK
Property & Development.
M2 EQUITYBITES-August 23, 2012-Arabian American Development Co reports first sale of zinc & copper concentrates from AMAK
mine with total revenue exceeding USD15m(C)2012 M2 COMMUNICATIONS http://www.
staff has managed this startup period in a professional manner and we look forward to these shipments and loadings becoming an ordinary and routine happening," said Mr Carter.