Maaden (company)
| Company type | Government-owned corporation of the Kingdom of Saudi Arabia |
|---|---|
| ISIN | SA123GA0ITH7  |
| Industry | Exploration of mining sites, Gold and Metals mining, Infrastructure, Other |
| Founded | 1997 |
| Headquarters | Riyadh, Saudi Arabia |
Key people | Khalid Saleh Al-Mudaifer[1]: President, CEO Abdullah Al-Saif: Chairman |
| Products | Gold, Silver, Phosphate, Aluminum, Base metals |
| Revenue | 221 Million SAR (2008)[2] |
| Total assets | 97,657,597,000 Saudi riyal (2019) |
Number of employees | +2000 (2009) |
| Website | www.maaden.com.sa |
MA'ADEN (Saudi Arabian Mining Co.) is a diversified mining company, active in gold base metals mining and infrastructure industry. Ma'aden was formed as a Saudi joint stock company on 23 March 1997 for the purpose of facilitating the development of Saudi Arabia’s mineral resources. It is the largest mining company in Saudi Arabia. The Saudi government still owns 50% of its shares while the remaining 50% are listed in Tadawul (Stock Market). The company is structured with corporate headquarters in Riyadh with several subsidiaries.[3]
On 20 December 2009, Ma'aden signed an agreement with US aluminium giant Alcoa to build a $10.8 billion aluminium complex. Under the agreement, the two firms will build a 1.8 million tonnes per year aluminium refinery and a 750,000 tonnes per year smelter in Ras Al-Zour.[4] The smelter is slated to start production in 2013 while the refinery would come online in 2014.[5]
The company was primarily focused on developing the Kingdom's gold mining operations. Ras Al-Khair's complex includes a diammonium phosphate plant, a alumina refinery, smelter and rolling mill associated with the Alco joint venture, and links by rail to the phosphate mine in Waad Al-Shamal.[6]
Corporate and subsidiaries
Ma'aden Corporate (HQ): Based in Riyadh.
- Ma'aden Gold Company: based in Jeddah, Gold and base metals.[7]
- Ma'aden Phosphate Company: based in Ras Al-Khair, phosphate industry, with joint venture partner SABIC.[8]
- Ma'aden Aluminum Company: based in Ras Al-Khair, aluminum industry, with joint venture partner Alcoa.[9]
- Ma'aden Rolling Company
- Ma'aden Smelter Company
- Ma'aden Mining and Refinery Company
- Ma'aden Infrastructures Company: based in Ras Al-Khair, Housing.[10]
- Ma'aden Industrial Minerals Company: Based in Jeddah.
- Magnesite Projects: Based in Medina
- Zinc and Copper Projects
Ma'aden projects
Ma'aden’s projects are currently developing or operating at the following sites in Saudi Arabia:[11]
Al Jalamid - The Phosphate Project
Ras AZ-Zour (Ras Al Khair) - The Phosphate and Aluminium Projects
Az Zabirah - The Aluminium and Industrial Minerals Projects
Zarghat - Industrial Minerals Project
Mahd ad Dahab - Gold and Base Metals
Sukhaybarat - Gold and Base Metals
Bulghah - Gold and Base Metals
Al Hajar - Gold and Base Metals
As Suoq - Gold and Base Metals
Ad Duwayhi - Gold and Base Metals
Al Amar - Gold and Base Metals
References
- ^ صحيفة الاقتصادية الالكترونية : «معادن» تعيّن خالد المديفر رئيسا تنفيذيا للشركة
- ^ Mubasher.info Business news[permanent dead link]
- ^ History of maaden Archived 2009-07-06 at the Wayback Machine
- ^ "Bechtel to Develop Ras Azzour Smelter - U.S.-Saudi Arabian Business Council". Retrieved 24 September 2010.
- ^ Business : Saudi Maaden signs $10.8 bln deal with US Alcoa
- ^ Al-Naimi, Ali (2016). Out of the Desert. Great Britain: Portfolio Penguin. pp. 248–249. ISBN 9780241279250.
- ^ Gold and Base Metal co Archived 2009-05-30 at the Wayback Machine
- ^ co
- ^ Aluminum co
- ^ Infrastructure co Archived 2009-06-14 at the Wayback Machine
- ^ Ma'aden – Saudi Arabian Mining Company Archived 2009-10-13 at the Wayback Machine