(Ma’aden) announces changes regarding its subsidiary, Ma’aden Rolling Company
Jun 26, 2019
Saudi Arabian Mining Company (Ma’aden) announces that Alcoa Corporation (Alcoa) has agreed to transfer to Ma’aden its 25.1% interest in Ma’aden Rolling Company (MRC), without any cash compensation in exchange for the release of Alcoa from future MRC lenders obligations. This will bring the company’s ownership in MRC to 100%. MRC owns and operates the beverage can rolling facility located in Ras Al Khair Industrial City, together with and the auto rolling assets. Alcoa will retain its 25.1% interest in Ma’aden Aluminium Company (MAC), which owns and operates the Aluminium smelter, and in Ma’aden Bauxite and Alumina Company (MBAC), which…
The contract for the establishment of a mine, Mansoura plant, mine and Masra plant to produce gold
Apr 30, 2019
The Saudi Arabian Mining Company (Ma'aden) has announced that its wholly-owned subsidiary, Ma'aden Gold and Base Metals Company, has issued a Notice of Award to Outotec and Larsen&Toubro Consortium to complete the engineering, procurement, construction, pre-commissioning, commissioning and start-up assistance of the Mansourah & Massarah Project. The project also includes training services to develop national cadres on project engineering, operations and maintenance. The Mansourah & Massarah mines, processing plant and associated infrastructure will be located in the Central Arabian Gold Region, one of the richest geological areas in the Kingdom and are due to be completed in 2022.
Maaden acquires Meridian Fertilizer Group
Apr 18, 2019
Saudi Arabia’s largest mining company, Ma’aden, will make its first international acquisition with the purchase of an African Fertilizer distribution company.
The publicly-listed Saudi Arabian Mining Company will acquire an 85% stake in the Mauritius-based Meridian Group in an all cash deal that will provide one of the Middle East’s largest phosphate producers with 3,000 staff and a network of operations across southern Africa, from Malawi to Mozambique, Zimbabwe and Zambia.
Phosphate is used to produce fertilizer that is essential in replacing the phosphorous mineral that is removed from soil when agricultural plants are harvested.
“This acquisition marks a very…