Saudi Arabia is a country famous with their oil industry, where their wealth coming from, as well as home of the two holy moslem city in the world. They are also now famous with the new young and ambitious crown prince Mohammad bin Salman. Now we are not about talking of them or the new policy about lifting the ban for women to drive their own car, but about their new bright future, their mining company, Ma’aden.
Ma’aden, Saudi Arabia’s new hope
Saudi arabian giant mining company, Ma’aden mining company listed among the top 25 mining company, one of the fastest growing mining companies in the world and the largest multi-commodity mining and metals company in the Middle East. In fact, it is the only one mining company in KSA and it is the Government controlled company until they sell the 50% shares to public.
Founded in 1997 when the Kingdom released the Royal Decree with a mandate to develop Saudi Arabia’s minerals sector as the third pillar of Saudi industry, beyond oil and petrochemicals. Maaden has been stated to be the next Saudi resource of revenue as they want to reduce their dependencies to Oil based industry.
Ma’aden mining company was wholly owned by the Saudi Government until 2008 when 50% of our shares were floated on the Saudi Stock Exchange (Tadawul). Today, Ma’aden is ranked among the top 10 global mining companies based on market capitalization.
Ma’aden’s objective is to become a world class diversified mining and minerals company, and to enhance overall value for its shareholders.
In their release, they stated by themselves, Ma’aden is a company that performs all of its actions with the utmost concern for human resources, health, safety, environmental and social issues. It is committed to the protection of the health and safety of its employees and the environment.
After just only 20 years since Ma’aden established, Ma’aden significantly reached extraordinary business scope area. Now they have four main different areas:
- Gold and Base Metals
- Industrial Minerals
Ma’aden also at least owned five subsidiaries and or joint venture company, including MBCC, Ma’aden Barrick Copper Company, a 50-50 joint venture between Ma’aden and Canadian giant mining company, Barrick.
Read our next article to know in deep about Ma’aden operations, opportunity and projects.