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Saudi Arabia-based Kefi Minerals has revealed plans to carry out its first mining operation at Jibal Qutman in the Kingdom
The company said that the plan was made after Kefi Minerals reported a new inferred resource for the property, which totalled to 313,000 ounces of gold, which could potentially be economically mined in a shallow open cut between 60 metres and 70 metres deep.
The firm, which is a 40 per cent partner in the Gold and Minerals (G&M) joint venture, will aim to complete a pre-feasibility study by the end of Q4 2013 or Q1 2014.
To date, the joint venture has been granted four exploration licences with 17 exploration licence applications at various stages of permission, including two at an advanced stage.
Kefi Minerals said that the company was making progress on all other exploration licence applications.
Jeffrey Rayner, managing director at Kefi Minerals, said, “The year 2012 was an exciting and very busy year for Kefi Minerals. We are very pleased with the progress of our exploration programme and the prospect of our first mining operation at Jibal Qutman.”