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 had 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%.
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 abundant, 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 the mining city (Wa’ad Al Shamal).
- 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.
- 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.
2023
- Ma’aden launches Manara Minerals, a joint venture with the Public Investment Fund, to invest in global mining assets.
- Completion of 9.9% acquisition of Ivanhoe Electric Inc. and joint venture to explore strategic minerals in Saudi Arabia.
- Ma’aden discovers125 km potential gold resource south of Mansourah Masarah.
2022
- Q1 2022 reports a record – breaking net profit of SAR 2,9 billion and 64% growth in sales.
- MOUs signed with India’s four largest fertilizer companies to double Ma’aden’s exports of phosphate products and ammonia.
2021
- Commercial. Production and export of Ammonia 3, part of Ma’aden fertilizer company, begins.
- Board of Directors approval of Ma’aden’s 2040 strategy.
2020
- Started Mansourah Manssarah Gold Mine & Plant construction.
2019
- Ma’aden completes first international acquisition, of Mauritius-based fertilizer company Meridian Group.
2018
- The Kingdom’s Public Investment Fund (PIF) consolidated the government’s interest in Ma’aden.
- PIF now holds 65.44 per cent of the company's shares.
2015
- Start of commercial production at the Ad Duwayhi plant.
- Completion of 430km treated water pipeline in Taif.
2014
- Contract signed for the construction of the city of Wa’ad Al Shamal.
- Start of commercial production at the As Souq gold mine.
- Ma’aden Barrick Copper Company established in cooperation with Barrick.
- The Aluminium Rolling mill in Ras Al Khair started operations.
2013
- Establishment of the Wa’ad Al Shamal Ma’aden Phosphate Company – a joint venture with Mosaic and SABIC.
- Contract signed for the construction of the Ad Duwayhi gold mine.
2012
- Ma’den Phosphate Company begins operational activities and production of DAP.
- Start of production of aluminium ingots.
2011
- Ma’aden Ammonia plant starts commercial production.
- First export from the Ma’aden Ammonia plant.
2010
- Train operations started between Al Jalamid mine and Ras Al Khair.
2009
- Establishment of Ma’aden Aluminium Company – a joint venture with Alcoa.
2008
- Fifty percent of Ma’aden’s shares were floated on the Saudi Stock Exchange (Tadawul).
- Al Amar gold mine begins commercial operation.
2007
- Establishment of Ma’aden Phosphate Company – a joint venture with SABIC.
2006
- Development of the port in Ras Al Khair.
2003
- Bulghah gold mine begins commercial production.
1997
- Ma’aden established by royal decree.
- Mahd Al Dahab gold mine starts operations.