Vision, mission, core values, and strategy
To be a world class minerals enterprise.
Champion the responsible development of the mining sector as the third pillar of the Saudi economy by maximizing the value of the mineral resources for our stakeholders and adopting best in class practices.
Our core values
Ma‘aden‘s values are formulated to strengthen the Company‘s culture and foster the growth of those positive elements that will help Ma‘aden in its development as it looks to establish itself as a successful and proﬁtable mining company, with a world class reputation for operational eﬃciency, sustainable development and regards for social and environmental issues.
Ma‘aden is committed to openness, transparency, and honesty in its dealings with shareholders, employees and partners. This is done through keeping them aware of its objectives, goals, and businesses.
- Integrity - Honestly, integrity and highest ethical standards in our relationships with all our stakeholders.
- Care - Sustained care and fairness for our people, the communities we touch and the environments we operate in.
- Teamwork - Communication and collaboration with each other across the company and with partners to achieve success.
- Ownership - Personal responsibility and empowerement of others for quality results in pursuit of our collective goals.
Ma‘aden has adopted a 2022 strategy “Ma‘aden 2022“ , which is best expanded upon in the following statement of strategic directions:
- World class Ambitious targets have been set for growth and proﬁtability. The growth is targeted to be higher than 15% p.a. through 2022 and average ROIC higher than 10% to be reached over next 10 years. Ma‘aden is targeting to become among the top 10 producers in all export-oriented industries while maintaining cash costs in at least the second quartile in each industry.
- Minerals The diversiﬁed portfolio initially focuses on precious metals, phosphate and aluminium, it considers expansion into other minerals in KSA on commodity-based businesses. Ma‘aden will invest in the downstream products if such products support proﬁtable growth in the core business. “Ma‘aden 2022” focuses on exploration to maximize value from existing licenses quickly, and proactively acquiring new licenses in high priority minerals.
- Enterprise “Ma‘aden 2022” focuses on acquiring best-in-class capabilities and talent through developing world class people, processes and expertise with more than 50% saudization. In addition, Ma‘adenaims to be a sustainability leader in KSA through fostering economic development of the regions and communities where it operates, achieving Health and Safety excellence compared to its peers, maintaining an ethical and socially responsible proﬁle and ensuring environmentally friendly operations.
“Ma‘aden‘s 2022” strategy programme is capitalizing on the signiﬁcant expansion currently under way, whilst seeking newopportunities to drive and diversify the next phase of growth beyond the near term strategy programme.
Ma‘aden beneﬁts from strong future growth potential, which is underlined by the following factors:
- Being the Kingdom‘s dominant player in the mining industry with licenses to promising mineral resources
- Competitive cost of energy supporting industries along the value chain
- Continued favorable outlook in demand for its current products
- Utilizing new and advanced technologies
The strategy will focuses on the following key areas:
- Complete development and ramp-up of existing projects in a rapid and capital eﬃcient way, whilst excelling in operational eﬃciency, productivity and cost eﬀectiveness.
- Making significant and targeted exploration investments, The Kingdom‘s geology remains largely underexplored, providing opportunities for Ma‘aden to expand and diversify into minerals with higher added value potential downstream.
- Expansions in project opportunities with high returns and low risks to reinforce Ma‘aden‘s standing leadership in the minerals sector in the Kingdom and its global competitiveness.
- Building best in class capabilities supported by both internally developed knowledge on enterprise wide expanded talent base and through strategic partnerships, when necessary