The Ma'aden story
Ma’aden today is among the fastest growing mining companies in the world and the largest multi-commodity mining and metals company in the Middle East. We are ranked among the top 10 global mining companies based on market capitalization.
We have come a long way since 1997, when the company was established by royal decree with a mandate to develop Saudi Arabia’s minerals sector as the third pillar of Saudi industry, beyond oil and petrochemicals.
Ma’aden was wholly owned by the Saudi Government until 2008, when half its shares were floated on the Saudi Stock Exchange (Tadawul). In June 2018, the government holding went up with the Public Investment Fund (PIF) increasing its shareholding to 65.44 per cent.
After investing significant effort, time and resources in building a world-class, unique and fully integrated mining value chain, we are now focused on marketing our products worldwide, improving the return on our investments and consolidating our resources and experience – even as we continue to develop new locations and build new industrial plants.
Since our IPO, Ma’aden has diversified from being a gold producing company by building large, world-class phosphate, aluminium, industrial minerals and copper concentrate operations. In the process, we have:
- built a new mining industrial mega-hub (Ras Al Khair) and a second mining city (Wa’ad Al Shamal) in remote areas of Saudi Arabia;
- contributed significantly to the country’s non-oil GDP;
- created thousands of jobs and a new mining industry workforce;
- promoted new downstream industries;
- supported local communities through health, education and social initiatives;
- nurtured the development of many small and medium sized Saudi businesses;
- contributed to building new infrastructure facilities, and
- attracted significant foreign direct investment and advanced technology.
As the leader of the Saudi mining industry, we are committed to embedding sustainability across Ma’aden’s businesses. We are committed to act responsibly towards all our stakeholders: shareholders, customers, business partners, regulators, employees and the communities in which we operate, as well as the natural environment surrounding our facilities.