MA’ADEN REPORTS FIRST QUARTER 2023 RESULTS
May 22, 2023
Saudi Arabian Mining Company (“Ma’aden” or the “Company”, 1211 on the Saudi Exchange), the largest multi-commodity mining and metals company in the Middle East, today reported its financial results for the quarter ended 31 March 2023. The Company continues to drive transformation across its business and establish strategic partnerships to deliver long-term growth in line with Ma’aden’s 2040 strategy and to leverage Saudi Arabia’s mineral endowment.
QUARTERLY HIGHLIGHTS
Securing long term growth through strategic partnerships and project delivery:
- • Joint venture with PIF to expand international footprint, diversify Ma’aden’s product mix and securing supply of the kingdom’s…
Ma’aden blue ammonia exports to China and major markets helping to cut carbon emissions globally
May 18, 2023
Saudi Arabian Mining Company (Ma’aden), announces that it has exported its first shipments of low-carbon blue ammonia to China, in a significant milestone for the company’s journey as a green leader, as it helps key markets across the globe to reduce carbon emissions from supply chains.
Ma’aden signed an agreement to supply 25,000 tonnes of blue ammonia to Shenghong Petrochemicals, a leading petrochemical producer in China and globally. Today, Ma’aden’s first shipment to Shenghong Petrochemicals left Ras Al Khair port, where it will play a role in reducing carbon emissions of industrial raw materials.
Ma’aden is the world’s largest exporter…
Ma’aden finalizes groundbreaking agreement with Ivanhoe Electric Inc. to explore major untapped resources in Saudi Arabia
May 15, 2023
Saudi Arabian Mining Company (Ma’aden) announced that it has finalized its agreement with Ivanhoe Electric Inc. (IE) to purchase 9.9% shares in the company and form a 50/50 joint venture to undertake one of the largest exploration programs ever conducted. The deal will provide Ma’aden, through the joint venture, with access to IE’s breakthrough Typhoon™ geophysical survey technology, which will accelerate the exploration of Saudi Arabia’s lands, estimated to hold US$1.3tn of untapped minerals.
Ma’aden’s unprecedented exploration program is driven by the Kingdom’s ambitious Vision 2030, which positions mining as a third pillar of the Saudi economy. Under its new…
Ma’aden presents promising investment opportunities for local companies at the PIF Private Sector Partnership Forum
Mar 15, 2023
The Saudi Arabian Mining Company (Ma’aden) concluded its participation in the first edition of the PIF Private Sector Partnership Forum, organized by the Public Investment Fund, which saw the participation of a number of local businesses across a range of sectors.
Ma’aden showcased several cooperation and partnership opportunities within its various business units including Aluminum; Phosphate Fertilizers; and Base Metals and New Minerals, which have a total annual expenditure rate of more than SAR1.3 billion.
During the forum, Ma’aden participated in workshops and seminars where it highlighted its partnerships with the local private sector in light of Ma’aden’s…
Minister of Industry and Mineral Resources sees Ma’aden’s major new Phosphate 3 projects at Ras Al-Khair
Mar 14, 2023
H.E. Bandar bin Ibrahim Alkhorayef, Minister of Industry and Mineral Resources; H.E. Khalid Al-Mudaifer, Vice Minister for Mining Affairs; and H.E. Eng. Khalid bin Mohammed Al-Salem, President of the Royal Commission for Jubail and Yanbu, visited Ma’aden facilities at the Ras Al-Khair Industrial City, to view the company’s mega projects and latest operations.
During his visit, His Excellency met with Ma’aden Deputy CEO, Abdulaziz Asker Al-Harbi; EVP of Ma’aden Phosphate Business Unit, Hassan Al Ali; EVP of Ma’aden’s Aluminum Business Unit, Ali Al-Qahtani; and SVP of Corporate Strategy and Corporate Affairs, Ayed Al-Mutairi, to discuss the major projects and…