Company Insights Ma’aden Mining Ma’aden News Mining PIF’s Manara in talks to buy minority stake in Zambian mines Manara Minerals, a joint venture between Saudi Arabian Mining Co (Maaden) and the sovereign Public Investment Fund (PIF), is in advanced talks to acquire 15 to 20 percent in Canadian miner First Quantum Minerals’ Zambian copper and nickel assets. The stake could be potentially valued between $1.5 billion and $2 billion, Reuters reported, citing informed […] October 17, 2024 Mining Saudi-backed Vale plans to increase copper output Brazilian miner Vale, which is backed by Saudi Arabia’s Public Investment Fund (PIF), aims to increase copper production after conceding that it had lost ground to competitors in its output of the key metal. Vale is a top global iron ore producer but also operates base metal projects including copper and nickel. In his first […] October 4, 2024 Analysis Mining Ma’aden-Alba merger ‘a potential game changer’ The proposed merger between the Saudi Arabian mining company Ma’aden and Bahrain’s aluminium smelter Alba looks likely to shake up the global aluminium industry, with the new company challenging for sixth place in the world rankings. “It’s almost a game-changing event, particularly in the GCC region,” says Andy Farida, a senior analyst at Fastmarkets, a […] September 27, 2024 Mining Mineral wealth leads global lab to open in Saudi Arabia The drive to exploit Saudi Arabia’s estimated $2.5 trillion of untapped mineral wealth has moved another step forward with the opening by the global laboratory testing company Bureau Veritas of a new metal and minerals facility in Jeddah. “Saudi Arabia is one of our key markets. It’s fast growing and that’s what makes it quite […] September 23, 2024 Industry Maaden to acquire Sabic’s stake in Bahrain’s Alba Saudi Arabian Mining Company (Maaden) will acquire Saudi Basic Industries Corporation’s (Sabic) 20.62 percent share in Aluminium Bahrain (Alba) as part of its global growth strategy. The Saudi-listed mining major aims to grow ten times by 2040, with its aluminium business being the core contributor. Maaden will become the second-largest shareholder in Alba, holding a 20.62 […] September 18, 2024 Industry Alba and Maaden plan global aluminium powerhouse Aluminium Bahrain (Alba), one of the world’s largest aluminium smelters, and Saudi Arabian Mining Company (Maaden) have signed a non-binding agreement to explore forming a “global powerhouse” in aluminium production. “This potential combination will reshape the global aluminium industry, positioning the merged entity as one of the largest aluminium producers worldwide,” Bahrain-listed Alba said in […] September 17, 2024 Mining Maaden to buy Alcoa stake in Saudi venture for $1.1bn Saudi Arabian Mining Company (Maaden) will purchase a 25.1 percent stake from US aluminium producer Alcoa in their joint venture for $1.1 billion. The transaction includes 86 million shares of Maaden, valued at $950 million, and $150 million in cash. The joint venture, established in 2009, is a fully integrated mining complex in Saudi Arabia consisting of […] September 16, 2024 Analysis Markets PIF-backed Saudi companies increase dividends This week Saudi Arabia’s former telecom monopoly announced increased dividends. It became the latest company part-owned by the kingdom’s sovereign wealth fund and listed on Riyadh’s bourse to do so. The higher payouts provide a boost to the income of the Public Investment Fund, which it can then reinvest in higher-growth industries and accelerate Saudi’s […] August 30, 2024 Mining Saudi Arabia targets stake in Pakistan’s $6.5bn mining project Saudi Arabia plans to acquire a 15 percent stake in the Reko Diq mining project in Pakistan, according to a media report. The stake will be purchased through Manara Minerals, a joint venture between Saudi Arabian Mining Co (Maaden) and the sovereign Public Investment Fund (PIF), The Express Tribune, a Karachi-based news outlet, reported. The […] August 28, 2024 Industry Maaden profit up three-fold on higher commodity prices Maaden, Saudi Arabia’s largest miner, reported a three-fold surge in net profits supported by higher commodity prices and lower raw material costs. The second-quarter 2024 earnings rose to SAR1.02 billion ($260 million) from SAR351 million in the year-earlier period. In addition, an insurance claim of SAR270 million and a one-off severance charge of SAR192 million […] August 12, 2024 Posts navigation Previous 1 … 3 4 5 … 8 Next
Mining PIF’s Manara in talks to buy minority stake in Zambian mines Manara Minerals, a joint venture between Saudi Arabian Mining Co (Maaden) and the sovereign Public Investment Fund (PIF), is in advanced talks to acquire 15 to 20 percent in Canadian miner First Quantum Minerals’ Zambian copper and nickel assets. The stake could be potentially valued between $1.5 billion and $2 billion, Reuters reported, citing informed […] October 17, 2024
Mining Saudi-backed Vale plans to increase copper output Brazilian miner Vale, which is backed by Saudi Arabia’s Public Investment Fund (PIF), aims to increase copper production after conceding that it had lost ground to competitors in its output of the key metal. Vale is a top global iron ore producer but also operates base metal projects including copper and nickel. In his first […] October 4, 2024
Analysis Mining Ma’aden-Alba merger ‘a potential game changer’ The proposed merger between the Saudi Arabian mining company Ma’aden and Bahrain’s aluminium smelter Alba looks likely to shake up the global aluminium industry, with the new company challenging for sixth place in the world rankings. “It’s almost a game-changing event, particularly in the GCC region,” says Andy Farida, a senior analyst at Fastmarkets, a […] September 27, 2024
Mining Mineral wealth leads global lab to open in Saudi Arabia The drive to exploit Saudi Arabia’s estimated $2.5 trillion of untapped mineral wealth has moved another step forward with the opening by the global laboratory testing company Bureau Veritas of a new metal and minerals facility in Jeddah. “Saudi Arabia is one of our key markets. It’s fast growing and that’s what makes it quite […] September 23, 2024
Industry Maaden to acquire Sabic’s stake in Bahrain’s Alba Saudi Arabian Mining Company (Maaden) will acquire Saudi Basic Industries Corporation’s (Sabic) 20.62 percent share in Aluminium Bahrain (Alba) as part of its global growth strategy. The Saudi-listed mining major aims to grow ten times by 2040, with its aluminium business being the core contributor. Maaden will become the second-largest shareholder in Alba, holding a 20.62 […] September 18, 2024
Industry Alba and Maaden plan global aluminium powerhouse Aluminium Bahrain (Alba), one of the world’s largest aluminium smelters, and Saudi Arabian Mining Company (Maaden) have signed a non-binding agreement to explore forming a “global powerhouse” in aluminium production. “This potential combination will reshape the global aluminium industry, positioning the merged entity as one of the largest aluminium producers worldwide,” Bahrain-listed Alba said in […] September 17, 2024
Mining Maaden to buy Alcoa stake in Saudi venture for $1.1bn Saudi Arabian Mining Company (Maaden) will purchase a 25.1 percent stake from US aluminium producer Alcoa in their joint venture for $1.1 billion. The transaction includes 86 million shares of Maaden, valued at $950 million, and $150 million in cash. The joint venture, established in 2009, is a fully integrated mining complex in Saudi Arabia consisting of […] September 16, 2024
Analysis Markets PIF-backed Saudi companies increase dividends This week Saudi Arabia’s former telecom monopoly announced increased dividends. It became the latest company part-owned by the kingdom’s sovereign wealth fund and listed on Riyadh’s bourse to do so. The higher payouts provide a boost to the income of the Public Investment Fund, which it can then reinvest in higher-growth industries and accelerate Saudi’s […] August 30, 2024
Mining Saudi Arabia targets stake in Pakistan’s $6.5bn mining project Saudi Arabia plans to acquire a 15 percent stake in the Reko Diq mining project in Pakistan, according to a media report. The stake will be purchased through Manara Minerals, a joint venture between Saudi Arabian Mining Co (Maaden) and the sovereign Public Investment Fund (PIF), The Express Tribune, a Karachi-based news outlet, reported. The […] August 28, 2024
Industry Maaden profit up three-fold on higher commodity prices Maaden, Saudi Arabia’s largest miner, reported a three-fold surge in net profits supported by higher commodity prices and lower raw material costs. The second-quarter 2024 earnings rose to SAR1.02 billion ($260 million) from SAR351 million in the year-earlier period. In addition, an insurance claim of SAR270 million and a one-off severance charge of SAR192 million […] August 12, 2024
