MA’ADEN DELIVERS CONTINUED GROWTH: Strong Q3 results follow record first half performance
Nov 01, 2022
- • Q3 sales up 50% year on year, at SAR 10 billion for the quarter
- • Q3 EBITDA increased by 37% year-on-year to reach more than SAR 4.2 billion
- • Net profit increased by 71% year-on-year to reach SAR 2.7 billion in Q3
Saudi Arabian Mining Company (Ma’aden), the largest multi-commodity mining and metals company in the Middle East, today announces its financial results for the third quarter of 2022.
Q3 2022 Sales increased by 50% compared with the same period in 2021, reaching SAR 10 billion (US$ 2.7 billion). Ma'aden enjoyed higher production volumes during the period,…
MA'ADEN among top 3 purchasers of carbon credits at world’s largest carbon auction
Oct 27, 2022
Saudi Arabian Mining Company (Ma’aden), the largest multi-commodity mining and metals company in the Middle East, is one of the largest purchasers of carbon credits from the first MENA Voluntary Carbon Market auction and the largest in the world, held on October 26, 2022, at the 6th edition of the Future Investment Initiative in Riyadh.
The auction offered high-quality CORSIA-compliant and Verra-registered carbon credits, with 15 Saudi and regional entities participating in the sale.
Commenting on the milestone, Robert Wilt, CEO of Ma’aden, said: “As the world moves towards net zero, we need to do our part to…
Ma'aden and King Fahd University of Petroleum & Minerals sign an agreement to collaborate on R&D
Oct 20, 2022
Saudi Arabian Mining Company (Ma’aden), the largest multi-commodity mining and metals company in the Middle East, has signed an agreement with King Fahd University of Petroleum & Minerals (KFUPM) to collaborate on the research and development of mining technology.
The signing ceremony was witnessed by His Royal Highness Prince Abdulaziz bin Salman bin Abdulaziz, Minister of Energy and Chairman of the Board of Trustees of Fahd University of Petroleum & Minerals, where it was signed between Abdulaziz Al-Harbi, Deputy CEO of Ma’aden, and Dr. Muhammad Al-Saggaf, President of KFUPM.
The agreement will facilitate collaboration on scientific and technical research,…