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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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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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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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