MA’ADEN AGREES TO ACQUIRE SABIC'S STAKE IN ALUMINIUM BAHRAIN TO FURTHER REGIONAL GROWTH
Sep 17, 2024
Saudi Arabian Mining Company (Ma’aden), the region’s largest multi-commodity metals and mining company, has agreed to acquire SABIC’s 20.62% share in Aluminium Bahrain (ALBA), following the satisfaction of certain agreed conditions, as it continues to pursue regional growth opportunities across its business.
The transaction is indicative of Ma’aden’s continued growth and ambitions to grow 10x by 2040, with its aluminum business a core contributing factor to that strategy.
The announcement comes on the back of the news that Ma’aden and Aluminium Bahrain (Alba) have signed non-binding Heads of Terms to explore the potential to form a global aluminum powerhouse in…
MA’ADEN AND ALUMINIUM BAHRAIN AGREE TO EXPLORE POTENTIAL COMBINATION OF THEIR ALUMINIUM BUSINESSES FORMING GLOBAL ALUMINIUM CHAMPION
Sep 16, 2024
Saudi Arabian Mining Company (Ma’aden), the region’s largest multi-commodity metals and mining company, and Aluminium Bahrain B.S.C. (Alba), one of the world’s largest aluminium smelters, have signed a non-binding Heads of Terms to pursue the potential formation of a global aluminium leader.
This potential combination of Ma'aden's aluminium business and Alba will create a global powerhouse in aluminium production. It will bring together more than 75 years of combined experience in operational excellence and performance with the financial strength and production capacity to compete globally.
The companies have also agreed to explore a cross listing on the Saudi Stock…
MA’ADEN AND ALCOA ENTER INTO SHARE PURCHASE AND SUBSCRIPTION AGREEMENT FOR ALCOA’S CURRENT INVESTMENT IN MA’ADEN ALUMINIUM
Sep 15, 2024
The Saudi Arabian Mining Company (“Ma’aden”) (Tadawul: 1211), the Middle East’s largest mining and metals company, and Alcoa Corporation (“Alcoa”) (NYSE: AA, ASX: AAI), one of the world’s leading aluminium companies, announced today that they have entered into a Share Purchase and Subscription Agreement. The agreement will see Alcoa’s share in both Ma’aden Aluminium Company (MAC) and Ma'aden Bauxite and Alumina Company (MBAC), transfer to Ma’aden. In exchange, Alcoa will receive cash and newly issued Ma'aden shares, thereby broadening its interest in the Saudi Arabian Mining Company.
Upon completion, this transaction will provide Ma’aden with full ownership and total…
The Human Resources Development Fund Signs Memorandum of Cooperation to Localize Mining Sector Professions
May 15, 2024
Ma’aden has signed a cooperation memorandum with the Human Resources Development Fund (HRDF) to bolster human capital development in Saudi Arabia’s mining sector.
Feras Abalkhail, Deputy General Manager of Business at HRDF, and Abdullah Al Osaimi, Senior Vice President for Procurement and Business Support at Ma’aden, signed the agreement. This collaboration aligns with Saudi Vision 2030, supporting Saudi Arabia’s mining sector professions, enhancing national workforce capabilities, and enabling access to promising job opportunities.
The memorandum includes the training and empowerment of suppliers via Ma’aden’s Tharwah Local Content Program, which will provide support solutions to ensure the sustainability of the Kingdom’s…
HRH Prince of Qassim Region Visits Sukhaybarat Mine
Apr 29, 2024
His Royal Highness Prince Dr. Faisal bin Mishaal bin Saud bin Abdulaziz, Prince of Qassim Region, conducted a field visit to the Sukhaybarat Mine in the Uqlat Al-Suqur Province. This visit is part of his continuous efforts to promote sustainable development in the region and strengthen the mining sector as a core component of the local economy.
Upon his arrival, HRH the Prince was welcomed by Ma'aden CEO Bob Wilt, along with several company officials, where he explored the mining operations and learned about the efforts made in managing the mine and for improving processes. HRH the Prince expressed great…