Ma'aden was formed by Royal Decree in 1997 to facilitate the development of Saudi Arabia's mineral resources. In 2004, the Cabinet adopted the new Mineral Investment Law in a step helped in the development of the mineral sector and the infrastructure of the railway and the port, which enabled Ma’aden to easily transfer its products to market.
Ma’aden was wholly owned by the Saudi Government before 50% of its shares were floated on the Saudi Stock Exchange (Tadawul) in 2008.
Initially Ma'aden's activities focused on expanding its active gold business which now includes several mines throughout KSA: Mahd Ad Dahab, Bulghah, Sukhaybarat, Al Amar, As-Suq and Ad Duwayhi mines. In addition, there is a probable expansion by adding mines of Ar Rajoum, Massarah, and Mansourah.
Ma’aden has expanded its activities to cover phosphate. In 2007, it founded “Ma'aden's Phosphate” as a joint venture with SABIC – a leading Saudi company in petrochemical area. It invested in an operational facility in Ras Al-Khair Port, the industrial city of the Eastern Province. As well, Ma'aden's Phosphate runs Jalamid site, which locates 150kmin the west of the city of Arar, northern of KSA. It contains phosphate mine and plant that produces about 11.6 million tons of the raw material that is transferred through railway to Ras Al-Khair. There is also a huge project to produce phosphate in Wa’ad Al-Shamal city’s project, which locates in the far north of KSA, about 20km from Tareef. In this context, Ma’aden has founded “Wa’ad Al-Shamal’s Phosphate” in partnership with SABIC and Mosaic (the largest fertilizer producer in the world).
Ma’aden also has founded Ma’aden’sAluminumProject, which is a partnership with several affiliates of Ma’aden, such as Ma’aden’s Aluminum, Ma’aden Bauxite and Alumina and Ma’aden Rolling Mill. It is one of the most integrated and effective Aluminum projects in the world. It contains a bauxite mine and arefinery in addition to one of the most advanced rolling mill plants in the world.
Both Al Ba'ithaBauxite Mine, an affiliate of Ma’aden’s Bauxite and Aluminum and ore crushing and handling facility, locate after 600km North West of Ras Al Khair. The production capacities of the is estimated at a rate of 4.0 million mtpy of bauxite, which is transferred by the railway to Ras Al-Khair.
In addition to the main areas of our business, which is limited to gold, phosphate and aluminum, Ma’aden is constantly working on expansion of its business portfolio, discovers and evaluates sites for new metals. Currently, Ma’aden is evaluating the available capabilities at the level of a number of industrial and base metals to expand our portfolio in the field of mining.
It includes some industrial metals that subject to study on an ongoing base, such as heat resistance metals, low-concentration bauxite, cyanate, graphite, pure limestone for ground calcium carbonate and precipitated calcium carbonate products, potash and iron. The main metals under study include copper, lead deposits, zinc and nickel deposits.
Accordingly, Ma’aden added another portion to its investment portfolio as in the middle of 2014, it completed acquisition of copper project in Jabal Sayd. Currently, it owns 50% of the project with an investmentof nearly SAR 810 million (USD 216 million) through the copper “Metals – Barrick”
Ma’aden in cooperation with the Saudi government through the Ministry of Petroleum and Mineral Resources is seeking to achieve its vision in leading the mineral industry in KSA in order to become the third pillar of industry in KSA after oil and petrochemical.
Ma'aden's business units will operate through separate subsidiaries to facilitate strategic partnerships and each will have its own Board and management. Through existing agreements, our partners will provide their international operational and technical expertise in all phases of development of the businesses. As well, the partners will provide expertise with respect to the sale and marketing of Ma'aden's products reflected in off take agreements and flexible marketing arrangements that enable Ma'aden to develop its own marketing resources over time.
SABIC (30%) and Ma’aden (70%) are partners in Saudi Arabia’s first major phosphate project, the Ma’aden Phosphate Company which can produce 3 million tonnes per annum of phosphate fertiliser product for global markets. SABIC (15%), Ma’aden (60%) and Mosaic (25%) are also partners in the US$8 billion Ma’aden Wa’ad Al-Shamal Phosphate Company (MWSPC), which will extract phosphate from the north of Saudi Arabia and develop it into products like fertilizer for global agriculture customers.
SABIC is the Saudi Basic Industries Corporation, one of the world’s leading manufacturers of chemicals, fertilizers, plastics and metals. A public company based in Riyadh, 70% of its shares are owned by the Saudi Arabian government, with the remaining 30% held by private investors. SABIC began in 1976 by Royal decree and today has operations in over 40 countries with a global workforce of over 40,000. The company is composed of six business units: Chemicals, Polymers, Performance Chemicals, Fertilizers, Metals and Innovative Plastics. The company’s manufacturing, sales, technology and innovation facilities are located throughout the globe and are managed by four regional offices: the Middle East and Africa, Asia, the Americas and Europe. SABIC has invested heavily in Technology and Innovation facilities spread across the globe with hundreds of dedicated scientists contributing to the ongoing development of new patents and certifications.
Alcoa (25.1%) and Ma’aden (74.9%) are partners in the US$10.8 billion Ma’aden Aluminium project, one of the world’s largest fully integrated aluminum facilities, including a mine, refinery, smelter and rolling mill in Ras Al Khair, Saudi Arabia.
Alcoa is a global leader in lightweight metals technology, engineering and manufacturing. Its technologies enhance transportation, from automotive and commercial transport to air and space travel, and improve industrial and consumer electronics products. Alcoa enables smart buildings, sustainable food and beverage packaging, high performance defense vehicles across air, land and sea, deeper oil and gas drilling and more efficient power generation. Alcoa pioneered the aluminum industry over 125 years ago and today it has 60,000 people in 30 countries delivering value-add products made of titanium, nickel and aluminum, and produce best-in-class bauxite, alumina and primary aluminum products.
The Mosaic Company
Mosaic (25%) Ma’aden (60%) and Sabic (15%) are partners in the US$8 billion Ma’aden Wa’ad Al-Shamal Phosphate Company (MWSPC), which will extract phosphate from the north of Saudi Arabia and develop it into products like fertilizer for global agriculture customers.
The Mosaic Company is the world's leading producer and marketer of concentrated phosphate and potash. It employs 9,000 people in six countries and participates in every aspect of crop nutrition development. Mosaic products are processed into crop nutrients, and then shipped via rail, barge and ocean-going vessel to customers in the major agricultural centers of the world. The work of mining and processing potash and phosphate minerals is an energy- and water-intensive endeavor. Mosaic works carefully to maximize efficiencies and minimize use of energy and natural resources, and has made significant progress in reducing its environmental footprint. Mosaic is an important driver of economic activity in each of its operating communities, and strives to be a thoughtful and engaged neighbor, using its financial resources, expertise and innovative spirit to demonstrate its commitment to good corporate citizenship.
Barrick Gold Corporation
Barrick (50%) and Ma’aden (50%) are partners in the Jabal Sayid copper mine in Saudi Arabia.
Barrick aims to be the leading mining company focused on gold, growing cash flow per share by developing and operating high quality assets through disciplined allocation of human and financial capital and operational excellence. Barrick is committed to a culture of partnership and the values underpinning such a culture: trust, transparency and shared responsibility and accountability. Barrick has mining operations in Argentina, Australia, Canada, Chile, Dominican Republic, Papua New Guinea, Peru, Saudi Arabia, United States and Zambia. More than 75 percent of the company’s gold production comes from the Americas region.
Sahara Petrochemicals Company
Sahara (50%) and Ma’aden (50%) are partners in the US$750 million SAMAPCO joint venture located in Jubail in Eastern Province of Saudi Arabia. SAMAPCO supplies 250,000 tons per annum of caustic soda to Ma’aden’s alumina refinery at Ras Al Khair, and its 300,000 tons per annum of ethylene dichloride targets both domestic and international customers.
Sahara Petrochemicals Company’s mission is to provide quality petrochemical and chemical products and attract customers by investing and developing safe, environment friendly, reliable facilities to meet customer needs and shareholder expectations. Its vision is to be amongst the world’s leaders in promoting the petrochemical and chemical business, utilizing state of the art technologies and building effective strategic alliances and synergies. Sahara objectives include to; invest in projects producing propylene, polypropylene, ethylene, polyethylene and other petrochemical and hydrocarbon based products; to own and execute projects necessary to supply the company with its own raw materials and utilities requirements, and; to acquire real estate and construct infrastructure to aid manufacturing, stocking, selling and purchasing.
Kingdom of Saudi Arabia
Tel: +966 (0) 11 874 8000
Fax: +966 (0) 11 874 8300