Maaden (company)

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Not to be confused with Maaden.
Saudi Arabian Mining Company (MA'ADEN)
TypeGovernment-owned corporation of the Kingdom of Saudi Arabia
ISINSA123GA0ITH7
IndustryExploration of mining sites, Gold and Metals mining, Infrastructure, Other
Founded1997; 24 years ago (1997)
HeadquartersRiyadh, Saudi Arabia
Key people

Chairman:
HE Khalid Bin Abdulaziz Al-Falih
President, CEO:
Darren Davis
ProductsGold, Silver, Phosphate, Aluminum, Base metals
Revenue12.08 billion SAR (2017)[1]
Total assets97,657,597,000 Saudi riyal (2019) Edit this on Wikidata
Number of employees
+7000 (2017)
Websitewww.maaden.com.sa

MA'ADEN (Saudi Arabian Mining Co.) is a diversified mining company, active in gold, base metals, mining and infrastructure industry. Ma'aden 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. It is the largest mining company in Saudi Arabia. The Saudi government still owns 50% of its shares while the remaining 50% are listed in Tadawul (Stock Market). The company is structured with corporate headquarters in Riyadh with several subsidiaries.[2]

On 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.[3] The smelter is slated to start production in 2013 while the refinery would come online in 2014.[4]

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.[5]

Corporate and subsidiaries[]

Ma'aden Corporate (HQ): Based in Riyadh.

  • Ma'aden Gold Company: based in Jeddah, Gold and base metals.[6]
  • Ma'aden Phosphate Company: based in Ras Al-Khair, phosphate industry, with joint venture partner SABIC.[7]
  • Ma'aden Aluminum Company: based in Ras Al-Khair, aluminum industry, with joint venture partner Alcoa.[8]
    • Ma'aden Rolling Company
    • Ma'aden Smelter Company
    • Ma'aden Mining and Refinery Company
  • Ma'aden Infrastructures Company: based in Ras Al-Khair, Housing.[9]
  • Ma'aden Industrial Minerals Company: Based in Jeddah.
  • Magnesite Projects: Based in Medina
  • Zinc and Copper Projects

Ma'aden projects[]

Ma'aden's projects are currently developing or operating at the following sites in Saudi Arabia:[10]

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

As Suoq - Gold and Base Metals

Ad Duwayhi - Gold and Base Metals

Al Amar - Gold and Base Metals

References[]

  1. ^ Annual Reports - maaden.com.sa
  2. ^ History of maaden Archived 2009-07-06 at the Wayback Machine
  3. ^ "Bechtel to Develop Ras Azzour Smelter - U.S.-Saudi Arabian Business Council". Archived from the original on 28 September 2013. Retrieved 24 September 2010.
  4. ^ Business : Saudi Maaden signs $10.8 bln deal with US Alcoa
  5. ^ Al-Naimi, Ali (2016). Out of the Desert. Great Britain: Portfolio Penguin. pp. 248–249. ISBN 9780241279250.
  6. ^ Gold and Base Metal co Archived 2009-05-30 at the Wayback Machine
  7. ^ co
  8. ^ Aluminum co
  9. ^ Infrastructure co Archived 2009-06-14 at the Wayback Machine
  10. ^ Ma'aden – Saudi Arabian Mining Company Archived 2009-10-13 at the Wayback Machine

External links[]

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