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Energy, feedstock price hike to cost Ma'aden $32m

RIYADH, January 3, 2016

Saudi Arabian Mining Company (Ma'aden) said on Sunday that changes to energy and gas feedstock prices announced by the government last week would reduce its profit in 2016 by around SR120 million ($32 million).

The company, the Gulf's largest miner, said in the bourse filing that it would continue implementing its strategy to boost productivity and reduce costs to manage changes in commodity markets.  - Reuters




Tags: Energy | Maaden | gas feedstock |

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