Ma’aden inks Asia aluminium supply deal
Riyadh, January 15, 2014
Saudi Mining Company (Ma’aden) said it has sealed key contracts to supply over 300,000 metric tons of aluminum to its Asian customers through 2014, complementing the 50,000 tonnes in supply agreements made with local and Turkey customers.
The 2014 supply contracts concluded by Ma’aden commit the company to deliver products to domestic buyers within Saudi; to regional buyers in Turkey; and to Asian buyers in Japan, Korea, Thailand, Taiwan and other SE Asian countries, said a senior official.
Ma’aden has emerged as a global primary Aluminium supplier, remarked Ma’aden Aluminium VP Khalid Al Luhaidan.
"Together, these supply agreements not only meet a significant portion of Asian demand, but they also represent an important milestone in our journey to becoming a world class minerals enterprise," he stated.
Ma’aden Aluminum Marketing and Logistics director Dhari Al-Shunaifi said it has signed a number of key sales agreements with major partners in the region and our higher production volumes in 2014 onwards.
"It will allow Ma’aden to further build on this success by expanding our geographic marketing and global sales footprint," noted Al Shunaifi.
"Ma’aden positions itself as a strategic primary supplier to Asian markets, mainly Japan and Korea where we will be one of the biggest suppliers starting from 2014," he added.
During 2014, Ma’aden’s flagship aluminium smelter at Ras Al Khair will reach full production capacity of 740,000 tons of quality primary aluminium products, stated Khalid Al Luhaida.
The smelter is part of the Ma’aden / Alcoa joint venture which, when completed in late 2014, will represent the world’s largest vertically integrated aluminum project. As majority partner in this joint venture, Ma’aden will take a 74.9 per cent share of the output.
Ma’aden has been building its marketing capacity in order to support local Saudi economic growth as well as penetrate the highly competitive markets in Asia.-TradeArabia News Service