Riyadh, Saudi Arabia - The Saudi Pro League (SPL) and Saudi Arabian Mining Company (Maaden) have agreed a long-term strategic partnership, with Maaden named the Official Platinum Partner of the SPL until July 2030. Omar Mugharbel, CEO of SPL, said: “We are proud to welcome Maaden as a long-term partner...
Maaden raises $1.25bn in sukuk offering
The Sukuk were offered in a five-year and a 10-year tranche.
Maaden net profit falls 83%
The company's fourth-quarter net profit declined 12% YoY.Saudi Arabia raises mineral resources estimates to $2.5 trillion
The Kingdom raised its mineral resources estimates from $1.3 trillion in 2016 on the exploration of nearly 30 percent of the Arabian Shield region, said the Minister of Industry and Mineral Resources, Bandar Alkhorayef. There are more resources to be explored and with more exploration investments, Saudi Arabia can reach the maximum capacity...Maaden posts net loss in Q3
Sales revenue was US$1.6 billion (SAR 6.22 billion) in Q3 2023.$1.3trn mineral reserves shift Saudi focus to mining
The Kingdom, leveraging its significant copper reserves across the nation, seeks to address the global shortage, particularly crucial amid the transition towards clean energy.
Maaden acquires 9.9% stake in Ivanhoe
It also completes conditions for a joint venture.
Tadawul-listed firms report 22% drop in first quarter net profit
Dubai, UAE -- A 22 percent drop in net profit was reported by Tadawul-listed companies in the first quarter of 2023, from SAR 186.24 billion ($49.66 billion) in the same quarter in 2022 to SAR 145.72 billion this year. Argaam reported the decline in net profit was due to a...Maaden Q1 net profit down 81%
The company posted a net profit of $111 million.Saudi firm signs pact to explore minerals in area the size of Denmark
Under the agreement, Saudi Arabian Mining Company (Ma'aden) will buy 9.9% shares of Ivanhoe Electric and use Ivanhoe's Typhoon surveying technology to explore an area of over 48,500 sq km of licensed sites in the kingdom for minerals.Ma’aden plans to become one of the top ten global aluminium producers
Key executives from Ma’aden’s aluminum and smelter department participated in the three-day conference Arabal 2022 in Cairo.Ma’aden, Barrick Gold alliance get license to explore mining site in Saudi Arabia
Saudi Arabia's Ministry of Industry and Mineral Resources announced that Saudi Arabian Mining Company Ma'aden and Barrick Gold Ltd alliance have obtained a license to explore the mining site of Umm al-Damar.
Ma’aden among top 3 buyers of carbon credits
Saudi Arabian Mining Company (Ma’aden) is one of the largest purchasers of carbon credits from the first MENA Voluntary Carbon Market auction.Maaden to supply phosphate, ammonia to four Indian firms
The Saudi Arabian Mining Company, Maaden, Thursday signed four memoranda of understanding with Indian fertilizer companies to supply phosphate and ammonia products, and to discuss ways to enhance joint cooperation in various fields of growth, technical development of specialized products, agricultural engineering and logistical solutions. These agreements aim to contribute...Ma’aden H1 net profit at $1.6bn
H1 2022 net profit increased by 232 percentMA’ADEN, GlassPoint to develop heat plant
The facility will be the world's largest solar process heat plant.
GCC stock exchanges witness a mixed week
The main Saudi index had a variable week, the Abu Dhabi exchange suffered a slight decline, while, the main index in Dubai closed unchanged.MA’ADEN Q1 profit is SAR 2.9b
The company recorded sales of SAR 8.9 billion, up by 64%.
Spurred by higher oil prices, GCC indices post gains this week
The GCC's main indices closed higher toward the end of week, spurred by higher oil prices. The Saudi index "TASI" reached 13,314 points, achieving an increase of 0.4 percent on Thursday, its last trading day. At the same time, the Dubai index increased by 0.2 percent during the week as...Ma’aden extends MoU with Emirates Global Aluminium
The MoU will enable the two companies to deepen the focus on R&D, aiming at both conventional and green technologies.
Aramco lifts TASI as UAE stocks see weekly gain
The Abu Dhabi Stock Exchange achieved weekly gains of 1.7 percent, while that for the Dubai stock exchange was 1.9 percent.
Shares of Ma’aden shoot up 6% on the back of record earnings
Shares of Ma’aden, the Saudi mining company, vaulted six percent in trading on Sunday when news broke of its record earnings for 2021.
GCC markets remain mixed amidst Omicron woes
Despite an increase in Omicron cases across the world, investors remain confident in the Saudi stock market. The UAE markets, meanwhile, stay cautious.
