Company Insights Ma’aden Mining Ma’aden News 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 Mining Mining licences granted for six sites in Saudi Arabia Saudi Arabia has granted exploration rights to five local companies to mine for precious metals at six sites around the country, while a further round of licence bidding has been opened. The locations at Al-Halahilah, Jabal Qaran, Makman Hijab, Al-Hijra, Nimas and Al Miyah exploration sites cover a total area of around 1,000 square km […] June 28, 2024 Finance Saudi Arabia’s PIF to invest $15bn to drive Brazil’s growth The Public Investment Fund (PIF), Saudi Arabia’s sovereign wealth fund, is planning to invest $15 billion in Brazil, according to a media report. The investments will be made in green hydrogen, infrastructure and renewable energy sectors, Reuters reported, quoting Brazil’s minister for energy, Alexandre Silveira. NewsletterGet the Best of AGBI delivered straight to your inbox […] June 13, 2024 Finance Saudi listed companies report Q1 profit rise Businesses listed on the Saudi stock exchange, excluding the state energy giant Aramco, reported an 8 percent rise in first-quarter profits this year, highlighting the continued strength of the non-oil sector as hydrocarbon output is cut. Net profit gains in the banking sector, and for telecoms operator STC and state mining company Maaden, helped to […] May 20, 2024 Mining Maaden Q1 profit jumps twofold to $262m Higher sales volume and lower depreciation costs helped Saudi state-backed miner Maaden’s net profits rise more than twofold rise year on year for the first quarter of 2024. Net earnings reached SAR982 million ($262 million) in January to March, compared to SAR419 million a year earlier. Revenue fell 9 percent year on year to SAR7.2 […] May 14, 2024 Mining Manara takes a $2.5bn stake in Brazilian mining giant Manara Minerals, a joint venture between Saudi Arabian Mining Co (Maaden) and the sovereign Public Investment Fund (PIF), has completed a $2.5 billion deal to acquire a stake in a subsidiary of Brazilian giant Vale. Maaden said in a filing to the Saudi Exchange that it has acquired 10 percent of Vale Base Metals Limited […] May 1, 2024 Analysis Renewable Energy Lithium’s highs and lows – and what they mean for the Gulf For one of the world’s most critical minerals, the past two years have been the best of times and the worst of times. First, lithium prices shot skywards, hitting around $80,000 per metric tonne in 2022 amid fears that global supply would not meet demand. Then, in just a year, the soft, silvery-white metal lost […] April 12, 2024 Opinion Industry Gulf giants need to take a lead role in the age of ‘Big Shovel’ There are challenges to overcome before the region can become a mining powerhouse April 8, 2024 Industry Demand for Saudi mining licences rises sharply Incentives and legislation are fuelling growth in Saudi Arabia’s mining industry as the government seeks to stimulate investment under Vision 2030. The Ministry of Industry and Mineral Resources said demand for Saudi mining licences had surged since a mining investment law came into force in 2021. The number of building material quarry licences jumped to […] March 20, 2024 Posts navigation Previous 1 … 4 5 6 … 8 Next
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
Mining Mining licences granted for six sites in Saudi Arabia Saudi Arabia has granted exploration rights to five local companies to mine for precious metals at six sites around the country, while a further round of licence bidding has been opened. The locations at Al-Halahilah, Jabal Qaran, Makman Hijab, Al-Hijra, Nimas and Al Miyah exploration sites cover a total area of around 1,000 square km […] June 28, 2024
Finance Saudi Arabia’s PIF to invest $15bn to drive Brazil’s growth The Public Investment Fund (PIF), Saudi Arabia’s sovereign wealth fund, is planning to invest $15 billion in Brazil, according to a media report. The investments will be made in green hydrogen, infrastructure and renewable energy sectors, Reuters reported, quoting Brazil’s minister for energy, Alexandre Silveira. NewsletterGet the Best of AGBI delivered straight to your inbox […] June 13, 2024
Finance Saudi listed companies report Q1 profit rise Businesses listed on the Saudi stock exchange, excluding the state energy giant Aramco, reported an 8 percent rise in first-quarter profits this year, highlighting the continued strength of the non-oil sector as hydrocarbon output is cut. Net profit gains in the banking sector, and for telecoms operator STC and state mining company Maaden, helped to […] May 20, 2024
Mining Maaden Q1 profit jumps twofold to $262m Higher sales volume and lower depreciation costs helped Saudi state-backed miner Maaden’s net profits rise more than twofold rise year on year for the first quarter of 2024. Net earnings reached SAR982 million ($262 million) in January to March, compared to SAR419 million a year earlier. Revenue fell 9 percent year on year to SAR7.2 […] May 14, 2024
Mining Manara takes a $2.5bn stake in Brazilian mining giant Manara Minerals, a joint venture between Saudi Arabian Mining Co (Maaden) and the sovereign Public Investment Fund (PIF), has completed a $2.5 billion deal to acquire a stake in a subsidiary of Brazilian giant Vale. Maaden said in a filing to the Saudi Exchange that it has acquired 10 percent of Vale Base Metals Limited […] May 1, 2024
Analysis Renewable Energy Lithium’s highs and lows – and what they mean for the Gulf For one of the world’s most critical minerals, the past two years have been the best of times and the worst of times. First, lithium prices shot skywards, hitting around $80,000 per metric tonne in 2022 amid fears that global supply would not meet demand. Then, in just a year, the soft, silvery-white metal lost […] April 12, 2024
Opinion Industry Gulf giants need to take a lead role in the age of ‘Big Shovel’ There are challenges to overcome before the region can become a mining powerhouse April 8, 2024
Industry Demand for Saudi mining licences rises sharply Incentives and legislation are fuelling growth in Saudi Arabia’s mining industry as the government seeks to stimulate investment under Vision 2030. The Ministry of Industry and Mineral Resources said demand for Saudi mining licences had surged since a mining investment law came into force in 2021. The number of building material quarry licences jumped to […] March 20, 2024
