MA'ADEN (Saudi Arabian Mining Co.) is a Saudi state-owned mining company headquartered in Riyadh. It was formed as a Saudi joint stock company on 23 March 1997 for the purpose of facilitating the development of Saudi Arabia's mineral resources. The Saudi government still owns 50% of its shares while the remaining 50% are listed in Tadawul (Stock Market). It is the largest mining company in Saudi Arabia.
 | |
| Company type | Public (mostly state-owned) |
|---|---|
| Tadawul: 1211 | |
| ISIN | SA123GA0ITH7  |
| Industry | Exploration of mining sites, Gold, world-class phosphate, aluminium, industrial minerals and copper concentrate operations. |
| Founded | March 23, 1997 |
| Headquarters | Riyadh, Saudi Arabia |
Key people | Chairman: H.E. Yasir Bin Othman Al-Rumayyan President, CEO: Robert Wilt (Bob) |
| Products | Gold, Silver, Phosphate, Aluminum, Base metals |
| Revenue | 26,769 billion SAR (2021)[1] |
| Total assets | 97,657,597,000 Saudi riyal (2019) |
| Owner | Public Investment Fund |
Number of employees | +8000 (2021) |
| Website | www.maaden.com.sa |
Corporate and subsidiaries
editOn 20 December 2009, Ma'aden signed an agreement with US aluminium giant Alcoa to build a $10.8 billion aluminium complex. Under the agreement, the two firms will build a 1.8 million tonnes per year aluminium refinery and a 750,000 tonnes per year smelter in Ras Al-Zour.[2] The smelter is slated to start production in 2013 while the refinery would come online in 2014.[3]
The company was primarily focused on developing the Kingdom's gold mining operations. Ras Al-Khair's complex includes a diammonium phosphate plant, an alumina refinery, smelter and rolling mill associated with the Alco joint venture, and links by rail to the phosphate mine in Waad Al-Shamal.[4]
Ma'aden Corporate (HQ): Based in Riyadh.
- Ma'aden Gold Company: based in Jeddah, Gold and base metals.[5]
- Ma'aden Phosphate Company: based in Ras Al-Khair, phosphate industry, with joint venture partner SABIC.[6]
- Ma'aden Aluminum Company: based in Ras Al-Khair, aluminum industry, with joint venture partner Alcoa.[7]
- Ma'aden Rolling Company
- Ma'aden Smelter Company
- Ma'aden Mining and Refinery Company
- Ma'aden Infrastructures Company: based in Ras Al-Khair, Housing.[8]
- Ma'aden Industrial Minerals Company: Based in Jeddah.
- Magnesite Projects: Based in Medina
- Zinc and Copper Projects
Ma'aden projects
editMa'aden's projects are currently developing or operating at the following sites in Saudi Arabia:[9]
Al Jalamid - The Phosphate Project
Ras AZ-Zour (Ras Al Khair) - The Phosphate and Aluminium Projects
Az Zabirah - The Aluminium and Industrial Minerals Projects
Zarghat - Industrial Minerals Project
Mahd ad Dahab - Gold and Base Metals
Sukhaybarat - Gold and Base Metals
Bulghah - Gold and Base Metals
Al Hajar - Gold and Base Metals (Closed)
As Suoq - Gold and Base Metals
Ad Duwayhi - Gold and Base Metals
Al Amar - Gold and Base Metals
Mansourah Masarrah - Gold and Base Metals
References
edit- ^ "Maaden - Results Centre".
- ^ "Bechtel to Develop Ras Azzour Smelter - U.S.-Saudi Arabian Business Council". Archived from the original on 28 September 2013. Retrieved 24 September 2010.
- ^ Business : Saudi Maaden signs $10.8 bln deal with US Alcoa
- ^ Al-Naimi, Ali (2016). Out of the Desert. Great Britain: Portfolio Penguin. pp. 248–249. ISBN 9780241279250.
- ^ Gold and Base Metal co Archived 2009-05-30 at the Wayback Machine
- ^ co
- ^ Aluminum co
- ^ Infrastructure co Archived 2009-06-14 at the Wayback Machine
- ^ Ma'aden – Saudi Arabian Mining Company Archived 2009-10-13 at the Wayback Machine
