Riyadh Bank and WestLB to help develop project at Jabal Sayid
Citadel also wants the two banks to lend money to the project.
The resources company plans to invest about $300m developing the Jabal Sayid copper mine (MEED 14:3:08).
It owns 50 per cent of the mine project and the local Construction Material Chemical Industries owns 50 per cent.
Citadel estimates the mine holds 1 million tonnes of copper and 440,000 tonnes of zinc. It should start production in 2011.
The company is also working on a gold mining project in Shayban, also in Saudi Arabia.
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