Maaden (company)

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]

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 (1997)
HeadquartersRiyadh, Saudi Arabia
ProductsGold, silver, phosphate, aluminum, base metals
Revenue12.08 billion SAR (2017)[1]
Total assets97,657,597,000 Saudi riyal (2019) 
Number of employees
+7000 (2017)
Websitewww.maaden.com.sa/en

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 Report 2017". Maaden. Retrieved 26 March 2020.
  2. "History of Maaden". Maaden. Archived from the original on 2009-07-06. Retrieved 26 March 2020.
  3. "Bechtel to Develop Ras Azzour Smelter - U.S.-Saudi Arabian Business Council". U.S.-Saudi Arabian Business Council. Archived from the original on 28 September 2013. Retrieved 24 September 2010.
  4. "Saudi Maaden signs $10.8 bln deal with US Alcoa". Khaleej Times. December 20, 2009. Retrieved 26 March 2020.
  5. Al-Naimi, Ali (2016). Out of the Desert. Great Britain: Portfolio Penguin. pp. 248–249. ISBN 9780241279250.
  6. "Gold and Base Metal". Maaden. 2009-05-30. Archived from the original on 2009-05-30.
  7. "Our Business - Phosphate". Maaden. Retrieved 26 March 2020.
  8. "Our Business - Aluminum". Maaden. Retrieved 26 March 2020.
  9. "Infrastructure". Maaden. Archived from the original on 2009-06-14.
  10. "Ma'aden at a Glance". Maaden. Archived from the original on 2009-10-13. Retrieved 26 March 2020.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.