ADDENDUM ANNOUNCEMENT FROM SAUDI ARABIAN MINING COMPANY RELATED TO THE UNSCHEDULED TECHNICAL REPAIRS OF THE COOLING FACILITY AT ITS SUBSIDIARY (MPC) WHICH LED TO THE SHUTDOWN OF THE AMMONIA PLANT
Further to the companys announcement on Tadawul website on 04/06/1436H (corresponding to 24/03/2015G), the Saudi Arabian Mining Company (Maaden) announces that its subsidiary Maaden Phosphate Company (MPC) has completed the technical repairs of the cooling facility and successfully resumed the commercial operations of the ammonia plant located in Companys complex at Ras Al Khair city today 12/06/1436H (corresponding to 1/4/2015G).
The Ammonia plant produces ammonia which is used in the manufacturing of Diammonium Phosphate DAP. The shutdown had no impact on production at the DAP plant due to the availability of sufficient inventory of ammonia. Consequently, this shutdown has not affected the companys ability to meet its obligations towards its customers nor resulted in significant financial impact.
MPC is a limited liability company co-owned by Maaden (70%) and Saudi Basic Industries Corporation (SABIC) (30%).
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