Ma'aden (company) should not be confused with Maaden.
| Saudi Arabian Mining Company (Ma'aden) | |
| Type: | Public (mostly state-owned) |
| Location: | Riyadh, Saudi Arabia |
| Key People: | Chairman: H.E. Yasir Bin Othman Al-Rumayyan
|
| Owner: | Public Investment Fund |
| Num Employees: | +8000 (2021) |
| Industry: | Exploration of mining sites, Gold, world-class phosphate, aluminium, industrial minerals and copper concentrate operations. |
| Products: | Gold, Silver, Phosphate, Aluminum, Base metals |
| Revenue: | 26,769 billion SAR (2021)[1] |
| Homepage: | www.maaden.com.sa |
Ma'aden (stylized MA'ADEN;), also known as the Saudi Arabian Mining Co., is a Saudi state-owned mining company headquartered in Riyadh. It 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. The Saudi government still owns 50% of its shares while the remaining 50% are listed in Tadawul (Stock Market). It is the largest mining company in Saudi Arabia.
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.[2] The smelter is slated to start production in 2013 while the refinery would come online in 2014.[3]
The company was primarily focused on developing the Kingdom's gold mining operations. Ras Al-Khair's complex includes a diammonium phosphate plant, an alumina refinery, smelter and rolling mill associated with the Alco joint venture, and links by rail to the phosphate mine in Waad Al-Shamal.[4]
Ma'aden Corporate (HQ): Based in Riyadh.
Ma'aden's projects are currently developing or operating at the following sites in Saudi Arabia:[9]
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 (Closed)
As Suoq - Gold and Base Metals
Ad Duwayhi - Gold and Base Metals
Al Amar - Gold and Base Metals
Mansourah Masarrah - Gold and Base Metals