Company Insights Ma’aden Mining Ma’aden Overview Established by royal decree in 1997, Saudi Arabia’s state-owned mining company Ma’aden 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, Ma’aden is among the world’s top 10 mining companies, based on its market capitalisation. Ma’aden 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. Ma’aden 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. Ma’aden Ammonia produces ammonia. Ma’aden Phosphate Company is a joint venture with Saudi chemical manufacturing company Sabic. Ma’aden Aluminium Company is a joint venture to produce aluminium with US giant Alcoa. Wa’ad Al Shamal Ma’aden Phosphate Company is a joint venture to produce phosphate with US fertiliser company Mosaic and Sabic. Ma’aden 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, Ma’aden bought Mauritius-based fertiliser company Meridian Group, its first international acquisition. Ma’aden News Mining Gulf investors in talks to buy stake in US copper project Middle East investors are in talks with HudBay Minerals to buy a stake of as much as 30 percent in the Canadian company’s US copper project, a news report said. The stake sale in HudBay Mineral’s flagship Copper World project in Arizona has drawn interest from investors in Saudi Arabia, the UAE and Japan, Bloomberg […] March 21, 2025 Mining Ma’aden to invest billions after profit surge The Saudi state mining company Ma’aden is looking to invest between SAR8.6 billion and SAR10.6 billion ($2.3 billion to $2.8 billion) this year as profits bounce back after a three-year low. It announced an 82 percent year-on-year increase in profits for 2024 to reach SAR2.87 billion, according to a disclosure made to the Saudi Stock […] March 7, 2025 Mining Saudi Arabia turns to recycling to enhance mineral recovery As part of its push to make mineral mining a pillar of its otherwise hydrocarbon-dominated economy, Saudi Arabia is investigating how to increase extraction by recycling mining waste. This is providing a valuable opportunity for local startups and US technology companies. Since the start of the year, several startups in the critical minerals and rare […] February 28, 2025 Mining Ma’aden aims to be world’s most valuable mining company Saudi Arabia’s majority state-owned Ma’aden aims to grow ten-fold by 2040 to become the world’s most valuable mining company by market capitalisation, its CEO said. The country is accelerating development of its copper and other mineral resources, estimated to be worth as much as $2.5 trillion. “I can tell you, the minerals are here,” Ma’aden […] February 12, 2025 Banking & Finance Ma’aden’s $1bn sukuk nine times over-subscribed Saudi state-owned mining company Ma’aden has sold $1.25 billion of dollar-denominated sukuk to help finance a $12 billion expansion plan. The sale was more than nine times oversubscribed, the company said. The sale, which closed on Sunday, “marks a key milestone in Ma’aden’s ambitious 2040 strategy to secure essential minerals and transform mining into the […] February 10, 2025 Analysis Mining Canada’s Barrick seeks to tap $2trn of Saudi minerals 100 mining-related startups last year $20bn investment for sector Developing downstream industries A year ago Saudi Arabia almost doubled the estimated value of its mineral resources, from $1.3 trillion to $2.5 trillion, primarily on hi... Register now: It’s easy and free This content is available for registered members only. Register for your free account today […] February 6, 2025 Analysis Trade From fertiliser to minerals, GCC-Brazil ties move beyond oil Global sourcing headwinds Unease around Trump's tariffs Alternatives to China Since the start of the year Saudi Arabia and the UAE have moved aggressively to expand their access to mineral resources in Brazil. In turn, Brazil is inc... Register now: It’s easy and free This content is available for registered members only. Register for your […] February 5, 2025 Manufacturing No investment, more efficiency, say GCC aluminium smelters Aluminium producers in the Gulf are not planning any fresh investments in 2025, despite a projected rise in global demand, an industry official said this week. Production in the six Gulf Cooperation Council (GCC) countries grew by around 120,000 tonnes to reach a record high of nearly 6.45 million tonnes in 2024, said Mahmoud Al-Daylami, […] January 29, 2025 Mining Ma’aden signs $1bn contracts to develop industrial cities Saudi mineral giant Ma’aden has signed three contracts worth a combined $922 million with foreign companies to develop a third phosphate fertiliser project. The majority state-owned Saudi mining company announced the agreements in a note to the Saudi bourse on Thursday, coinciding with the final day of the Future Minerals Forum in Riyadh. Ma’aden is […] January 16, 2025 Mining Saudi development fund might invest $100m in Pakistan mining Saudi Arabia might invest more than $100 million in Pakistan’s mining infrastructure through its development fund to scale up operations to meet demand. Minister of industry and mineral resources Bandar Alkhorayef also confirmed that mining company Manara Minerals, a joint venture between Saudi sovereign wealth fund the Public Investment Fund and miner Ma’aden, is interested in investing […] January 16, 2025 Posts navigation 1 2 … 8 Next
Mining Gulf investors in talks to buy stake in US copper project Middle East investors are in talks with HudBay Minerals to buy a stake of as much as 30 percent in the Canadian company’s US copper project, a news report said. The stake sale in HudBay Mineral’s flagship Copper World project in Arizona has drawn interest from investors in Saudi Arabia, the UAE and Japan, Bloomberg […] March 21, 2025
Mining Ma’aden to invest billions after profit surge The Saudi state mining company Ma’aden is looking to invest between SAR8.6 billion and SAR10.6 billion ($2.3 billion to $2.8 billion) this year as profits bounce back after a three-year low. It announced an 82 percent year-on-year increase in profits for 2024 to reach SAR2.87 billion, according to a disclosure made to the Saudi Stock […] March 7, 2025
Mining Saudi Arabia turns to recycling to enhance mineral recovery As part of its push to make mineral mining a pillar of its otherwise hydrocarbon-dominated economy, Saudi Arabia is investigating how to increase extraction by recycling mining waste. This is providing a valuable opportunity for local startups and US technology companies. Since the start of the year, several startups in the critical minerals and rare […] February 28, 2025
Mining Ma’aden aims to be world’s most valuable mining company Saudi Arabia’s majority state-owned Ma’aden aims to grow ten-fold by 2040 to become the world’s most valuable mining company by market capitalisation, its CEO said. The country is accelerating development of its copper and other mineral resources, estimated to be worth as much as $2.5 trillion. “I can tell you, the minerals are here,” Ma’aden […] February 12, 2025
Banking & Finance Ma’aden’s $1bn sukuk nine times over-subscribed Saudi state-owned mining company Ma’aden has sold $1.25 billion of dollar-denominated sukuk to help finance a $12 billion expansion plan. The sale was more than nine times oversubscribed, the company said. The sale, which closed on Sunday, “marks a key milestone in Ma’aden’s ambitious 2040 strategy to secure essential minerals and transform mining into the […] February 10, 2025
Analysis Mining Canada’s Barrick seeks to tap $2trn of Saudi minerals 100 mining-related startups last year $20bn investment for sector Developing downstream industries A year ago Saudi Arabia almost doubled the estimated value of its mineral resources, from $1.3 trillion to $2.5 trillion, primarily on hi... Register now: It’s easy and free This content is available for registered members only. Register for your free account today […] February 6, 2025
Analysis Trade From fertiliser to minerals, GCC-Brazil ties move beyond oil Global sourcing headwinds Unease around Trump's tariffs Alternatives to China Since the start of the year Saudi Arabia and the UAE have moved aggressively to expand their access to mineral resources in Brazil. In turn, Brazil is inc... Register now: It’s easy and free This content is available for registered members only. Register for your […] February 5, 2025
Manufacturing No investment, more efficiency, say GCC aluminium smelters Aluminium producers in the Gulf are not planning any fresh investments in 2025, despite a projected rise in global demand, an industry official said this week. Production in the six Gulf Cooperation Council (GCC) countries grew by around 120,000 tonnes to reach a record high of nearly 6.45 million tonnes in 2024, said Mahmoud Al-Daylami, […] January 29, 2025
Mining Ma’aden signs $1bn contracts to develop industrial cities Saudi mineral giant Ma’aden has signed three contracts worth a combined $922 million with foreign companies to develop a third phosphate fertiliser project. The majority state-owned Saudi mining company announced the agreements in a note to the Saudi bourse on Thursday, coinciding with the final day of the Future Minerals Forum in Riyadh. Ma’aden is […] January 16, 2025
Mining Saudi development fund might invest $100m in Pakistan mining Saudi Arabia might invest more than $100 million in Pakistan’s mining infrastructure through its development fund to scale up operations to meet demand. Minister of industry and mineral resources Bandar Alkhorayef also confirmed that mining company Manara Minerals, a joint venture between Saudi sovereign wealth fund the Public Investment Fund and miner Ma’aden, is interested in investing […] January 16, 2025
