Saudi Arabian Mining Company (Ma'aden) said a massive smelter run jointly with US group Alcoa, which had experienced few technical glitches on start-up, will produce above its initial capacity target this year.
The smelter sta
Saudi Arabian Mining Company (Ma'aden) said on Tuesday that a subsidiary had been forced to shut down an ammonia plant in the east of the kingdom so that unscheduled maintenance could take place on its cooling facility.
Barrick Gold Corporation said on Wednesday it has formed a joint venture with Saudi Arabian Mining Company (Ma'aden) to run the Jabal Sayid copper asset in the kingdom, which will jump-start output at the long-delayed mine.
Saudi Arabian Mining Company (Ma'aden) has announced the subscription period for its SR5.6 billion ($1.5 billion) rights issue will start on Tuesday.
Shareholders can buy shares in the capital increase until December 2, the co
Saudi Arabian Mining Company (Ma'aden), the Gulf's largest miner, beat analyst forecasts as it reported a 66 per cent fall in third-quarter net profit after a one-off gain was not repeated.
The company's net profit in
Saudi Arabian Mining Co (Ma'aden) posted a significant jump in second-quarter net profit on Tuesday, beating the forecasts of analysts.
The miner made a net profit of 370.8 million riyals ($98.9 million) in the three months to
Barrick Gold said on Sunday it is forming a joint venture with Saudi Arabian Mining Co (Ma'aden) to run its Jabal Sayid copper asset in the kingdom, a move that could see the long-delayed mine finally begin production in late 2015.
Saudi Arabian Mining Co (Ma'aden) has signed a $5 billion financing deal with commercial banks and a state-owned investment fund to back its $7.5 billion phosphate production project in the kingdom, it said in a statement on Tuesday.
Saudi Arabian Mining Company (Maaden) aims to dig out 500,000oz of gold from across the Kingdom, including the Madinah region, said a report citing its top official.
Maaden is also considering introducing downstream operations to
Saudi Arabian Mining Co (Ma'aden), has appointed HSBC Saudi Arabia as financial advisor for its planned 5.6 billion riyals ($1.49 billion) rights issue, the company said in a statement on Monday.
Ma'aden had earlier this m