SAUDI ARABIAN MINING COMPANY (MAADEN) ANNOUNCES ITS SUBSIDIARY MAADEN BAUXITE AND ALUMINA COMPANY HAS SIGNED THE AMENDMENT FINANCING AGREEMENTS AND FINANCING AGREEMENT TO REPLACE ITS EXISTING DEBT
Jul 17, 2018
Saudi Arabian Mining Company (Maaden) announces that its subsidiary Maaden Bauxite and Alumina Company (MBAC) has executed on Monday 03/11/1439H (corresponding to 16/07/2018G) an amendment agreement with the Public Investment Fund (PIF) to amend the terms of its existing loan of SAR 3.750 billion (USD 1 billion) which has been reduced to SAR 3.506 billion (USD 935 million) through previous repayments.
MBAC has also signed a financing agreement with the following local and regional commercial banks: The National Commercial Bank, Al Rajhi Bank, Riyad Bank, Bank AlBilad, Arab National Bank, Alinma Bank, Banque Saudi Fransi, Samba Financial Group, Saudi British…
No Translation, Saudi Arabian Mining Company (MAADEN) announces the appointment of acting Chief Executive Officer
Jun 25, 2018
Saudi Arabian Mining Company (Maaden) announces that, the Board of Directors resolved on 24/6/2018 that Darren Davis, currently the Companys Senior Vice President Finance and Chief Financial Officer, is appointed as acting Chief Executive officer of the Company, effective of 01/07/2018. The Board of Directors expressed their thanks and appreciation to Mr. Khalid bin Salem Al Rowais, for temporarily assuming the role as acting CEO, and for his efforts throughout his many years at Maaden. Mr. Al Rowais, who is unable to continue in an executive capacity for health reasons, will continue serving the Company as a senior executive advisor.…
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