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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…

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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…

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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…

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Shareek and MISA agreements to accelerate growth across Ma’aden’s operations

Mar 01, 2023

Saudi Arabian Mining Company (“Ma’aden” or the “Company”), the region’s largest minerals producer, has signed a Framework Agreement with Shareek and a Support Agreement with the Ministry of Investment (MISA). The Shareek Framework Agreement is expected to help boost Ma’aden’s growth potential across its asset base while the MISA Support Agreement will accelerate the delivery of Ma’aden’s Phosphate 3 project by providing the required infrastructure for a project of this scale.

Saudi Arabia’s Shareek program partners with leading organizations in the Kingdom to unlock the full potential investment of the country’s private sector, which is contributing to achieving national targets…

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Saudi Arabia emerges as global mining hub, as Ma’aden announces major new venture and strategic partnerships

Jan 12, 2023

This week, at the Future Minerals Forum 2023, the Saudi Arabian Mining Company (Ma’aden) has announced a major new venture with the Public Investment Fund (PIF). A new, jointly owned company will make significant investments internationally into upstream strategic minerals opportunities, securing value chains critical to industrial development and energy transition in the Kingdom.

Ma’aden has also signed strategic partnerships with leading mining companies, Ivanhoe Electric (IE) and Barrick Gold Corporation (Barrick) to develop globally significant strategic mineral resources in the Kingdom to fuel the development of the sector internationally. These agreements will play an important role in unlocking value…

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