Company Insights Maaden Mining Maaden Overview Established by royal decree in 1997, Saudi Arabia’s state-owned mining company Maaden is among the fastest-growing mining companies in the world and the largest such business in the Middle East. Also known as Saudi Arabian Mining Company, Maaden is among the world’s top 10 mining companies, based on its market capitalisation. Maaden is 67 percent owned by the Public Investment Fund, the kingdom’s sovereign wealth fund. Founded with an aim of developing the kingdom’s minerals sector, initially as a gold miner, it was wholly state-owned until 2008, when half of its shares were floated on the Saudi stock exchange, Tadawul. In 2018, Saudi Arabia’s Public Investment Fund increased its stake to 65.44 percent. Maaden exports to more than 30 countries and operates 17 mines. This includes a a mining hub at Ras Al-Khair and a mining city Wa’ad Al Shamal. The company has a number of joint ventures and subsidiaries. Maaden Ammonia produces ammonia. Maaden Phosphate Company is a joint venture with Saudi chemical manufacturing company Sabic. Maaden Aluminium Company is a joint venture to produce aluminium with US giant Alcoa. Wa’ad Al Shamal Maaden Phosphate Company is a joint venture to produce phosphate with US fertiliser company Mosaic and Sabic. Maaden Barrick Copper Company is a joint venture to produce copper with Canadian miner Barrick. Manara Metals is a joint venture with the PIF to invest in global mining assets. In 2019, Maaden bought Mauritius-based fertiliser company Meridian Group, its first international acquisition. Maaden News Analysis Mining Critical minerals become a Middle East battleground Saudi Arabia’s efforts to boost domestic processing of so-called critical minerals could redraw the mining industry’s regional and global supply chains, industry observers say. Critical minerals are defined as materials required for a country’s strategic industries where there is a risk of interruption to supply. They include lithium, for making batteries, platinum, used in fuel […] December 4, 2024 Mining Saudi Arabia secures $9bn to unlock mining potential Saudi Arabia has announced investment agreements with global mining companies worth SAR35 billion ($9.32 billion), as the country seeks to capitalise on its estimated $1.3 trillion worth of untapped mineral resources. India-based Vedanta will build SAR7.5 billion copper facilities at Ras Al Khair Industrial City, including a greenfield smelter and refinery with a capacity of […] November 27, 2024 Mining Saudi Arabia’s Maaden seeks $1bn private sector investment Saudi Arabian Mining Company (Maaden) is offering upwards of 52 investment opportunities worth SAR4 billion ($1 billion) to boost private sector participation, a senior executive has said. Investments worth SAR1.3 billion are already in the implementation phase, Abdullah Al Osaimi, senior vice president, procurement and business support, told CNBC Arabia. Maaden, Saudi Arabia’s largest miner, […] November 22, 2024 Markets More companies tipped to list on Bahrain Bourse AlAbraaj Restaurants Group’s debut on Bahrain Bourse – the first listing on the exchange in more than five years – will pave the way for more activity, experts have told AGBI. The AlAbraaj initial public offering (IPO) this month is the first since the listing of APM Terminals Bahrain in 2018, according to consultancy EY. […] November 18, 2024 Telecoms PIF’s $1bn Saudi Telecom sale could be sign of things to come Saudi Arabia’s Public Investment Fund has offloaded a $1 billion stake in the kingdom’s former telecoms monopoly in a deal that could mark the start of further equity sales as government entities seek to raise money for infrastructure spending. In October, the International Monetary Fund lowered its GDP growth prediction for Saudi Arabia this year […] November 14, 2024 Mining Alba to decide on Ma’aden merger early next year Aluminium Bahrain (Alba) expects to decide whether to merge with subsidiaries of Saudi Arabia’s Ma’aden by the first quarter of 2025, its chief executive said on Wednesday. Alba, Bahrain’s largest listed company with a market valuation of almost BHD2 billion ($5.3 billion), on September 16 announced it had entered a non-binding agreement with Ma’aden. Under […] November 13, 2024 Sustainability Saudi Arabia’s carbon market to finance climate projects Saudi Arabia has launched a carbon trading market that will help provide financing for climate projects. The Regional Voluntary Carbon Market Company’s (RVCMC) voluntary carbon market exchange platform has more than 2.5 million tonnes of carbon credits for auction, it said in a statement. Buyers can obtain carbon credits from 17 climate projects from around […] November 12, 2024 Transport Lucid’s Jeddah factory targets new Middle East territories Lucid, the Saudi-owned electric vehicle manufacturer based in the US, is moving to full production at its Jeddah factory, with a target capacity of 150,000 cars a year within three years, its robotics provider, Rockwell Automation, said this week. “Currently it’s for domestic use but when the expanded plant is done, they will cover all […] November 7, 2024 Industry Bahrain’s Alba looking to Europe after Maaden deal Aluminium Bahrain (Alba) will keep exploring mergers and acquisitions, with a particular eye on Europe, once it completes its multi-billion dollar deal with Saudi Arabian Mining Company (Maaden). The deal is expected to be signed off in the first half of next year. The two companies penned a non-binding agreement in September and are in […] November 5, 2024 Mining PIF’s Manara seeks long-term deals, not just a ‘quick buck’ The Saudi investment fund Manara Minerals is targeting long-term deals and is not looking to “flip a quick return” during the current market slump, the CEO of its parent company owner has declared. Prices in critical minerals such as lithium, nickel and cobalt have slumped since 2023, after an initial surge as the market recovered […] October 31, 2024 Posts navigation 1 2 … 6 Next
Analysis Mining Critical minerals become a Middle East battleground Saudi Arabia’s efforts to boost domestic processing of so-called critical minerals could redraw the mining industry’s regional and global supply chains, industry observers say. Critical minerals are defined as materials required for a country’s strategic industries where there is a risk of interruption to supply. They include lithium, for making batteries, platinum, used in fuel […] December 4, 2024
Mining Saudi Arabia secures $9bn to unlock mining potential Saudi Arabia has announced investment agreements with global mining companies worth SAR35 billion ($9.32 billion), as the country seeks to capitalise on its estimated $1.3 trillion worth of untapped mineral resources. India-based Vedanta will build SAR7.5 billion copper facilities at Ras Al Khair Industrial City, including a greenfield smelter and refinery with a capacity of […] November 27, 2024
Mining Saudi Arabia’s Maaden seeks $1bn private sector investment Saudi Arabian Mining Company (Maaden) is offering upwards of 52 investment opportunities worth SAR4 billion ($1 billion) to boost private sector participation, a senior executive has said. Investments worth SAR1.3 billion are already in the implementation phase, Abdullah Al Osaimi, senior vice president, procurement and business support, told CNBC Arabia. Maaden, Saudi Arabia’s largest miner, […] November 22, 2024
Markets More companies tipped to list on Bahrain Bourse AlAbraaj Restaurants Group’s debut on Bahrain Bourse – the first listing on the exchange in more than five years – will pave the way for more activity, experts have told AGBI. The AlAbraaj initial public offering (IPO) this month is the first since the listing of APM Terminals Bahrain in 2018, according to consultancy EY. […] November 18, 2024
Telecoms PIF’s $1bn Saudi Telecom sale could be sign of things to come Saudi Arabia’s Public Investment Fund has offloaded a $1 billion stake in the kingdom’s former telecoms monopoly in a deal that could mark the start of further equity sales as government entities seek to raise money for infrastructure spending. In October, the International Monetary Fund lowered its GDP growth prediction for Saudi Arabia this year […] November 14, 2024
Mining Alba to decide on Ma’aden merger early next year Aluminium Bahrain (Alba) expects to decide whether to merge with subsidiaries of Saudi Arabia’s Ma’aden by the first quarter of 2025, its chief executive said on Wednesday. Alba, Bahrain’s largest listed company with a market valuation of almost BHD2 billion ($5.3 billion), on September 16 announced it had entered a non-binding agreement with Ma’aden. Under […] November 13, 2024
Sustainability Saudi Arabia’s carbon market to finance climate projects Saudi Arabia has launched a carbon trading market that will help provide financing for climate projects. The Regional Voluntary Carbon Market Company’s (RVCMC) voluntary carbon market exchange platform has more than 2.5 million tonnes of carbon credits for auction, it said in a statement. Buyers can obtain carbon credits from 17 climate projects from around […] November 12, 2024
Transport Lucid’s Jeddah factory targets new Middle East territories Lucid, the Saudi-owned electric vehicle manufacturer based in the US, is moving to full production at its Jeddah factory, with a target capacity of 150,000 cars a year within three years, its robotics provider, Rockwell Automation, said this week. “Currently it’s for domestic use but when the expanded plant is done, they will cover all […] November 7, 2024
Industry Bahrain’s Alba looking to Europe after Maaden deal Aluminium Bahrain (Alba) will keep exploring mergers and acquisitions, with a particular eye on Europe, once it completes its multi-billion dollar deal with Saudi Arabian Mining Company (Maaden). The deal is expected to be signed off in the first half of next year. The two companies penned a non-binding agreement in September and are in […] November 5, 2024
Mining PIF’s Manara seeks long-term deals, not just a ‘quick buck’ The Saudi investment fund Manara Minerals is targeting long-term deals and is not looking to “flip a quick return” during the current market slump, the CEO of its parent company owner has declared. Prices in critical minerals such as lithium, nickel and cobalt have slumped since 2023, after an initial surge as the market recovered […] October 31, 2024
