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Ma’aden announces strategic partnership with Ivanhoe Electric Inc. (IE) to acquire a 9.9% interest in IE and form a joint venture to explore strategic minerals in Saudi Arabia

Jan 11, 2023

Saudi Arabian Mining Company (Ma’aden) announces that it has entered into an agreement with Ivanhoe Electric (IE) that will see Ma’aden subscribing to new shares in IE resulting in a 9.9% equity interest for USD126 million. As part of the agreement, Ma’aden and IE will also establish a 50:50 joint venture to explore copper, gold, nickel and silver in Saudi Arabia. This is a significant investment for Ma’aden giving it strategic presence in a leading international mining company with its own proprietary technology and increasing its international exposure to critical minerals.

The Heads of Terms was signed today at…

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PIF AND MA’ADEN SIGN AN AGREEMENT TO ESTABLISH A COMPANY TO INVEST IN MINING ASSETS GLOBALLY

Jan 11, 2023

• Ma’aden will own 51% and PIF will own 49% of the company

• The company will initially invest in iron ore, copper, nickel, and lithium, as a non-operating partner taking minority equity positions in mining assets globally

• The agreement is in line with PIF's mission to build strategic economic partnerships and Ma’aden’s 2040 Strategy to strengthen and diversify its upstream mining capabilities and assets

The Public Investment Fund (PIF) and the Saudi Arabian Mining Company (Ma’aden), one of the world's fastest-growing mining companies, today announced during the opening of the Future Minerals Forum the signing of…

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Ma'aden focused on its vision to become a top 10 global producer of Aluminum

Dec 01, 2022

Saudi Arabian Mining Company (Ma’aden), one of the fastest-growing mining companies in the world and the largest multi-commodity mining and metals company in the Middle East, has concluded its participation in Arabal 2022, which took place from 29 November – 1 December in Cairo, Egypt uniting aluminum experts and industry leaders from across the MENA region.

The event brought together leaders in the aluminum industry to discuss the actions required for more sustainable aluminum productions, as well as the future of the industry.

Ma’aden’s participation reinforced its vision to become a top 10 global producer of aluminum at…

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Nov 18, 2022

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Nov 11, 2022

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