MA’ADEN REPORTS SECOND QUARTER 2023 RESULTS WITH SAR 6.97BN REVENUES
Aug 13, 2023
Saudi Arabian Mining Company “Ma’aden”, the largest multi-commodity mining and metals company in the Middle East, today reported its financial results for the second quarter of 2023. Ma’aden’s focus on transformation has underpinned an expansion in fertilizer production, helped secure new strategic partnerships, and supported an increase in the Company’s financial flexibility to deliver transformational growth projects, as part of Ma’aden’s 2040 growth strategy.
QUARTER HIGHLIGHTS
Continued focus on driving production growth and building capabilities through partnerships:
- • Record quarter of Phosphate production as Ma’aden extends its leading position in the global fertilizer market and pursues production…
Ma’aden Announces Assignment of Investment Grade Credit Ratings from Moody’s and Fitch
Aug 08, 2023
Saudi Arabian Mining Company (“Ma’aden”, 1211 on the Saudi Exchange), announces inaugural credit ratings and outlook assignments from Moody’s Investors Service (“Moody’s”) and Fitch Ratings (“Fitch”).
Moody’s assigned Ma’aden a Long-Term Issuer Rating of Baa1 with a ‘Stable’ outlook and Fitch assigned a Long-Term Issuer Default Rating of BBB+ with a ‘Stable’ outlook.
The investment grade ratings reflect Ma’aden’s diversified multi-commodity business model with global leadership in phosphate production, the Middle East’s largest integrated aluminium value chain, and a scalable Base Metals and New Minerals business.
The ratings affirm Ma’aden’s sustainable, leading low-cost base and robust financial profile,…
Ma’aden achieves significant progress on deleveraging with record SAR 3 billion early debt repayment
Jul 16, 2023
Saudi Arabian Mining Company (“Ma’aden” or the “Company”, 1211 on the Saudi Exchange) completes the largest debt prepayment in its history, totaling SAR 3 billion, carried out by Ma’aden Wa’ad Al Shamal Phosphate Company (MWSPC) ahead of schedule.
The early repayment, representing approximately 7% of Ma’aden’s consolidated debt, is a strategic move aimed at reducing finance costs and is part of the Company’s deleveraging strategy.
MWSPC (Ma’aden Wa’ad Al Shamal Phosphate Company) located north of Saudi Arabia, is one of the world’s largest phosphate production complexes, contributing to 50% of Ma’aden’s overall Phosphate production. Ma’aden’s phosphate business has seen…
No Translation, Ma’aden highlights role of fertilizer industry in addressing global agricultural value chain challenges at IFA Conference in Prague
May 25, 2023
The Saudi Arabian Mining Company (Ma’aden) has concluded its participation in the International Fertilizer Association (IFA) Annual Conference 2023 in Prague, Czech Republic. Held from 22 to 24 May under the theme “Where Food and Energy Markets Meet,” the conference brought together stakeholders from across the global agriculture value chain to address issues and challenges facing the industry, as well as the impact of the fertilizer sector on other global industries.
As the world’s second largest exporter of Phosphate fertilizer, Ma’aden plays an increasingly important role in global food security by providing high-quality fertilizers and building partnerships with stakeholders…