Al Masane Al Kobra Mining Co.
Trecora Resources owns a 33.4% interest in Al Masane Al Kobra Mining Company, a Saudi Arabian closed joint stock mining company ("AMAK") which is in commercial production of copper and zinc concentrate and a 55% interest in Pioche Ely Valley Mines, Inc. ("PEVM"), a Nevada mining corporation which presently does not conduct any substantial business activity but owns undeveloped properties in the United States.
Al Masane Al Kobra Mining Company is a precious metals and base metals developer focused on the completion and production of the 700,000 tpa copper, zinc and precious metals Al Masane Mine in Saudi Arabia. The Al Masane Project is fully funded and permitted. As of mid 2010, the surface facilities were nearing completion and waiting for testing prior to delivery of ore. The contract to continue mine development was awarded in July 2010, and the contractor is scheduled to be mobilized and begin work by January 1, 2011.
Production of copper concentrate, zinc concentrate, gold and silver bullion is scheduled for the 3rd quarter 2011.
The project is located in Najran Provence in southwestern Saudi Arabia, approximately 640 km south east of Jeddah. It lies some 414 km by a newly paved road from the port of Gizan on the Red Sea. The mines copper and zinc concentrates will be trucked to the port of Gizan and shipped to smelters in Europe or the far east.
In addition to the known ore reserves that are being developed, exploration of gossans and geochemical anomalies in the greater Al Masane area has indicated that there is a high probability of discovering additional minable resources which will increase the life of mine.