Company Insights Ma’aden Mining Ma’aden News Analysis Industry Future is rosy for Mena phosphate producers With Morocco and Saudi Arabia now holding the bulk of the world’s high-quality, accessible phosphate rock reserves, the Middle East and North Africa (Mena) region is a major centre for the phosphate mining industry’s future growth, analysts say. Morocco alone holds around 70 percent of the world’s total reserves of phosphate rock, the raw material […] November 17, 2023 Analysis Renewable Energy Startup touts alternative EV batteries for Saudi industry A startup developing non-lithium batteries for electric vehicles (EVs) says they are better suited to Gulf climates where flammability is a risk. But industry experts say it will be difficult to penetrate the car industry where lithium options are baked into budgets. Mukesh Chatter, founder of Alsym Energy, argued his case to regional political and […] November 1, 2023 Industry Miner Ma’aden reports $22m loss as commodity prices fall Ma’aden, the Gulf’s largest mining company, posted a net loss of SAR83 million ($22.1 million) for the third quarter of 2023, compared with a profit of more than SAR2 billion a year earlier. The Saudi company reported a SAR3.8 billion slump in sales on the back of declining commodity market prices of most of its […] October 31, 2023 Renewable Energy Saudi company invests in US battery maker Pure Lithium Saudi Arabian investment company Energy Capital Group has announced a collaboration with US tech startup Pure Lithium to develop renewable batteries. The batteries will use lithium extracted from oilfield brines, giving a further boost to Saudi Arabia’s plans to dominate in green industries. Based in Riyadh, Energy Capital Group did not disclose how much it […] September 1, 2023 Industry Saudi Arabia announces eight mining tenders Saudi Arabia’s Ministry of Industry and Mineral Resources has designated eight zones in the Riyadh region and the Eastern Province to be opened to tender, the Saudi Press Agency has said. The mining zones were listed as Ghunan, Al-Masnat, Al-Summan, Ras Al-Qarya, and eastern and western Salwa in the Eastern Province, the gravel stone complex […] August 16, 2023 Industry Rising funding costs hit Ma’aden’s Q2 earnings by 91% The net profit of Saudi Arabian Mining Co (Ma’aden) fell 91 percent in the second quarter of 2023, hit by rising funding costs and falling sales prices. The mining major reported a profit of SAR350.94 million ($93.53 million) in the quarter to June 2023, compared to SAR4.02 billion in the same period last year, according […] August 14, 2023 Analysis Agriculture Saudi and Brazil sow seeds to partner on food security Saudi Arabia is intensifying its trade and investment ties with Latin America in pursuit of food security and green energy, as a ministry-led delegation hunts for opportunities in Brazil, Chile, Costa Rica, Argentina, Panama and Paraguay. A visit to São Paulo earlier this week by Khalid al-Falih, Saudi minister of investment, coincided with a Brazilian […] August 3, 2023 Development Saudi venture buys 10% of world’s largest copper maker Manara Minerals, a joint venture between Saudi Arabian Mining Co (Ma’aden) and the sovereign Public Investment Fund (PIF), will acquire a stake in Brazilian miner Vale’s subsidiary. Manara Minerals will buy 10 percent of Vale Base Metals Limited (VBM), while US investment firm Engine No. 1 will acquire three percent. The two agreements are worth […] July 28, 2023 Energy Saudi hunts for critical minerals in energy transition Saudi state mining giant Ma’aden and US-based Ivanhoe Electric have closed a deal to investigate 48,500 sq km of under-explored lands in the Arabian Shield for “critical minerals” that are key to powering the global energy transition. Surveys could begin as soon as September in the new joint venture, which is worth nearly $130 million. […] July 24, 2023 Manufacturing Saudi Arabian Mining Co profit slumps 80% in Q1 The Middle East’s largest mining and metals company has reported an 80 percent drop in net profit for the first quarter of 2023. Saudi Arabian Mining Co, better known as Ma’aden, blamed the fall in part on increased costs related to raw materials and softer commodity prices. It posted net profit on Monday of just […] May 22, 2023 Posts navigation Previous 1 … 6 7 8 Next
Analysis Industry Future is rosy for Mena phosphate producers With Morocco and Saudi Arabia now holding the bulk of the world’s high-quality, accessible phosphate rock reserves, the Middle East and North Africa (Mena) region is a major centre for the phosphate mining industry’s future growth, analysts say. Morocco alone holds around 70 percent of the world’s total reserves of phosphate rock, the raw material […] November 17, 2023
Analysis Renewable Energy Startup touts alternative EV batteries for Saudi industry A startup developing non-lithium batteries for electric vehicles (EVs) says they are better suited to Gulf climates where flammability is a risk. But industry experts say it will be difficult to penetrate the car industry where lithium options are baked into budgets. Mukesh Chatter, founder of Alsym Energy, argued his case to regional political and […] November 1, 2023
Industry Miner Ma’aden reports $22m loss as commodity prices fall Ma’aden, the Gulf’s largest mining company, posted a net loss of SAR83 million ($22.1 million) for the third quarter of 2023, compared with a profit of more than SAR2 billion a year earlier. The Saudi company reported a SAR3.8 billion slump in sales on the back of declining commodity market prices of most of its […] October 31, 2023
Renewable Energy Saudi company invests in US battery maker Pure Lithium Saudi Arabian investment company Energy Capital Group has announced a collaboration with US tech startup Pure Lithium to develop renewable batteries. The batteries will use lithium extracted from oilfield brines, giving a further boost to Saudi Arabia’s plans to dominate in green industries. Based in Riyadh, Energy Capital Group did not disclose how much it […] September 1, 2023
Industry Saudi Arabia announces eight mining tenders Saudi Arabia’s Ministry of Industry and Mineral Resources has designated eight zones in the Riyadh region and the Eastern Province to be opened to tender, the Saudi Press Agency has said. The mining zones were listed as Ghunan, Al-Masnat, Al-Summan, Ras Al-Qarya, and eastern and western Salwa in the Eastern Province, the gravel stone complex […] August 16, 2023
Industry Rising funding costs hit Ma’aden’s Q2 earnings by 91% The net profit of Saudi Arabian Mining Co (Ma’aden) fell 91 percent in the second quarter of 2023, hit by rising funding costs and falling sales prices. The mining major reported a profit of SAR350.94 million ($93.53 million) in the quarter to June 2023, compared to SAR4.02 billion in the same period last year, according […] August 14, 2023
Analysis Agriculture Saudi and Brazil sow seeds to partner on food security Saudi Arabia is intensifying its trade and investment ties with Latin America in pursuit of food security and green energy, as a ministry-led delegation hunts for opportunities in Brazil, Chile, Costa Rica, Argentina, Panama and Paraguay. A visit to São Paulo earlier this week by Khalid al-Falih, Saudi minister of investment, coincided with a Brazilian […] August 3, 2023
Development Saudi venture buys 10% of world’s largest copper maker Manara Minerals, a joint venture between Saudi Arabian Mining Co (Ma’aden) and the sovereign Public Investment Fund (PIF), will acquire a stake in Brazilian miner Vale’s subsidiary. Manara Minerals will buy 10 percent of Vale Base Metals Limited (VBM), while US investment firm Engine No. 1 will acquire three percent. The two agreements are worth […] July 28, 2023
Energy Saudi hunts for critical minerals in energy transition Saudi state mining giant Ma’aden and US-based Ivanhoe Electric have closed a deal to investigate 48,500 sq km of under-explored lands in the Arabian Shield for “critical minerals” that are key to powering the global energy transition. Surveys could begin as soon as September in the new joint venture, which is worth nearly $130 million. […] July 24, 2023
Manufacturing Saudi Arabian Mining Co profit slumps 80% in Q1 The Middle East’s largest mining and metals company has reported an 80 percent drop in net profit for the first quarter of 2023. Saudi Arabian Mining Co, better known as Ma’aden, blamed the fall in part on increased costs related to raw materials and softer commodity prices. It posted net profit on Monday of just […] May 22, 2023
