If you'd like to get contact with us, please send an email to info@maaden.com.sa or you can contact one of our offices below:

SAUDI ARABIAN MINING COMPANY

Head Office - Riyadh
P.O. BOX 68861 Riyadh 11537
Kingdom of Saudi Arabia
Tel: +966 (0) 11 874 8000
Fax: +966 (0) 11 874 8300
info@maaden.com.sa
Public Relations & Media Affairs - Riyadh
P.O. Box 68861 Riyadh 11537
Kingdom of Saudi Arabia
Tel: +966 (0) 11 874 8354
Fax: +966 (0) 11 874 8057
media@maaden.com.sa
Procurement - Riyadh
P.O. BOX 68861 Riyadh 11537
Kingdom of Saudi Arabia
Tel: +966 (0) 11 874 8096
Fax: +966 (0) 11 874 84444
srm@maaden.com.sa
Jeddah
P.O. Box 13784 Jeddah 21414
Kingdom of Saudi Arabia
Tel: +966 (0) 12 229 2600
Fax: +966 (0) 12 229 2651
Al Khobar
P.O. Box 32001 Al Khobar 31952
Kingdom of Saudi Arabia
Tel: +966 (0) 13 811 1970
Fax: +966 (0) 13 811 1964
Jubail
P.O. BOX 11110 Jubail 31961
Kingdom of Saudi Arabia
Tel: +966 (0) 13 347 3333
Fax: +966 (0) 13 347 5682
Investor Relation - Riyadh
P.O BOX 68861 Riyadh 11537
Kingdom of Saudi Arabia
Tel: +966 (0) 11 874 8123
Fax: +966 (0) 11 874 8132
invest@maaden.com.sa

STRATEGIC BUSINESS UNITS - SBU

Aluminium - Riyadh
P.O. BOX 68861 Riyadh 11537
Kingdom of Saudi Arabia
Fax: +966 (0) 11 874 8187
aluminiumsales@maaden.com.sa
Phosphate - Riyadh
P.O. BOX 68861 Riyadh 11537
Kingdom of Saudi Arabia
Tel: +966 (0) 11 874 8329
mktg-online@maaden.com.sa
Gold - Jeddah
P.O BOX 13784 Riyadh 21414
Kingdom of Saudi Arabia
Tel: +966 (0) 12 229 2600
Fax: +966 (0) 12 229 2651
About Image

(Ma’aden) announces changes regarding its subsidiary, Ma’aden Rolling Company

Jun 26, 2019

Saudi Arabian Mining Company (Ma’aden) announces that Alcoa Corporation (Alcoa) has agreed to transfer to Ma’aden its 25.1% interest in Ma’aden Rolling Company (MRC), without any cash compensation in exchange for the release of Alcoa from future MRC lenders obligations. This will bring the company’s ownership in MRC to 100%. MRC owns and operates the beverage can rolling facility located in Ras Al Khair Industrial City, together with and the auto rolling assets. Alcoa will retain its 25.1% interest in Ma’aden Aluminium Company (MAC), which owns and operates the Aluminium smelter, and in Ma’aden Bauxite and Alumina Company (MBAC), which owns and operates the bauxite mine in Al Ba’itha and the alumina refinery both in Ras Al Khair Industrial City.

Ma’aden also announces that MRC’s remaining debt to the Public Investment Fund (PIF) in the amount of USD 796,370,000 is being transferred to Ma’aden.

Ma’aden will issue new debt in the same amount to PIF as consideration for the transfer. Ma’aden Board of Directors at its meeting today recommended an increase to Ma’aden’s share capital to convert the new debt to PIF into new shares of Ma’aden, The Board’s recommendation is subject to obtaining the regulatory approvals from the competent authorities and the approval of shareholders at a Ma’aden extraordinary General Assembly thereafter.

The reason for the debt conversion is to improve Ma’aden’s liquidity and credit position and enhance its ability to achieve its growth objectives. The capital increase will not result in any financial liability on or require any cash contribution by Ma’aden’s shareholders.

“This transaction will provide additional flexibility for Ma’aden to manage the rolling business going forward, whilst we will continue our long and successful relationship with Alcoa in our mining, refining and smelting joint ventures,” said Darren Davis, the Company’s President and Chief Executive Officer.

For further information please contact:

Media Relations

E: media@maaden.com.sa

MEDIA CONTACTS

Media Relations
media@maaden.com.sa

Annual Report 2014

Annual Report
Last Footer Border