South Korea-based Doosan Group has sold French drilling equipment manufacturer Montabert SAS, in its entirety, to USA?s Joy Global Inc. for US$124mn
Mining
Ma?aden to develop Saudi Arabia?s Ad Duwayhi gold mine
Ma?aden Gold & Base Metals Company has signed a financing agreement with the Saudi Industrial Development Fund (SIDF) for US$320mn
Omani mining companies sign MoU to process one million tonnes of copper and gold ore
Oman?s Al Hadeetha Resources LLC has signed an MoU with mining company Mawarid Mining LLC to process one million tonnes of copper and gold ore from the Washihi deposit in north Oman
Grown diamonds gaining popularity, states Frost & Sullivan report
The widespread shortage of mined diamonds has led to the rise in popularity of grown diamonds, whose growth is being supplemented by technology and research, stated a report by Frost & Sullivan
Minelab opens new US$2mn Dubai facility to ensure MENA-wide availability
Metal-detecting technologies provider Minelab has opened a new facility in Dubai as part of a US$2mn investment recognising Dubai?s value as a strategic hub for its gold business in the Middle East and North Africa