Ma’aden nears completion on first project in $6.4 billion ‘Phosphate 3’ portfolio expansion
Jun 13, 2021
Saudi Arabian Mining Company (Ma’aden), the Saudi Arabia’s national mining champion and one of the fastest-growing mining companies in the world, has completed utilities commissioning on a $900 million ammonia plant in Ras Al-Khair industrial City. Construction completion is expected in the fourth quarter 2021.
The ammonia plant is the first project in the $6.4 billion ‘Phosphate 3’ expansion to Ma’aden’s phosphate fertilizer portfolio, which encompasses the full mine-to-market development process of phosphate fertilizers.
Commenting on the announcement, Ma’aden CEO Abdulaziz Al Harbi said: “This is a tremendous milestone for our phosphate portfolio. The ammonia plant expansion will add…
Ma’aden awards operations contract for ambitious Mansourah & Massarah gold mine project
Jun 10, 2021
Saudi Arabian Mining Company (Ma’aden) has signed a contract with Jac Rijk Al-Rushaid Contracting & Services Co. to provide operational mining services at the Mansourah & Massarah gold mines, which at an investment value of $880 million is Ma’aden’s largest and most ambitious gold project to date.
Jac Rijk Al-Rushaid Co. Ltd. will operate drilling, scaling, loading, hauling, re-handling, ore control, dewatering, crusher feed, and all related activities at the mines to safely meet Ma’aden’s production targets.
Jac Rijk Al-Rushaid is a leading player in the local mining infrastructure industry in Saudi Arabia, and a reliable and experienced partner…
Ma'aden achieves strong financial performance in Q4 2020
Feb 04, 2021
Saudi Arabian Mining Company (Ma’aden) (Symbol: 1211) (ISIN: SA123GA0ITH7), one of the fastest growing global mining companies and the largest multi-commodity mining and metals company in the Middle East, today reported its financial results for the period ended 31st December 2020.
Ma’aden’s Chief Executive Officer, Mosaed Al Ohali, commented on the results: “During the year 2020 we witnessed a noticeable decline in the prices of our basic products, which affected the financial performance of the company in general, especially with regard to aluminum, which observed a decline in prices since before the COVID-19 pandemic. Starting from September 2020, there…
Ma’aden signs agreement to supply phosphate fertilizer to Bangladesh
Dec 28, 2020
Ma’aden, one of the fastest-growing global mining companies and the largest multi-commodity mining and metals company in the Middle East, has signed an agreement to supply phosphate fertilizer to the Bangladesh Agricultural Development Corporation (BADC) for the year 2021. BADC is state-owned company that works under the umbrella of the Bangladesh Ministry of Agriculture, which manages agricultural imports in the country.
Under this renewed contract, Ma’aden will supply Di-ammonium Phosphate Fertilizer (DAP) to BADC. Commenting on the announcement, Ma’aden CEO Mosaed Al Ohali said: “We are pleased to build on our strong partnership with BADC to supply the agricultural industry…