Saudi Arabian Mining Co. - MAADEN

Activities

Ma'aden stands as one of the fastest-growing mining companies globally and holds the distinction of being the largest multi-commodity mining and metals company in the Middle East. Ma'aden was a trailblazer in the Saudi Arabian mining industry. It played a pivotal role in developing the country's mineral resources. The company was established in 1997 as a joint venture between the Saudi Arabian government and the private sector. Since then, it has been on a remarkable journey of growth and diversification. Ma'aden's portfolio covers a wide range of minerals and metals, namely gold, base metals (zinc and other base metals), phosphate, aluminum, industrial minerals, chemicals (Ma'aden produces ethylene dichloride and caustic soda). Beyond mining, they're also invested in infrastructure projects. What sets Ma'aden apart is its fully integrated mining value chain. From exploration to production, they cover it all. They've built a world-class system that spans mining, processing, and even downstream industries like aluminum smelting. Ma'aden also takes sustainability seriously. They comply with the highest international standards of corporate governance. Their commitment extends to environmental stewardship, community engagement, and responsible practices. In May 2024, Ma'aden signed a memorandum with the Human Resources Development Fund. They also won the Sharjah Excellence Award for their outstanding performance. Ma'aden's exploration plans align perfectly with Saudi Vision 2030, the country's ambitious diversification roadmap. In this vision, mining is recognized as a third pillar of the Saudi economy, alongside oil and petrochemicals. Ma'aden has left an indelible mark on Saudi Arabia's economy, positioning itself as a key player in the nation's transformation. Through a 50/50 joint venture with Ivanhoe Electric Inc., Ma'aden is embarking on one of the largest exploration programs ever undertaken. This venture aims to explore at least 48,500 km² of land (an area larger than Denmark) in Saudi Arabia. The goal is to uncover major new reserves of copper, nickel, gold, silver, and other strategic minerals. Saudi Arabia is estimated to hold a staggering US$1.3 trillion worth of untapped minerals. By leveraging Ivanhoe Electric's geophysical survey technology, Ma'aden is poised to tap into this wealth. Ma'aden has committed to increasing its Local Content contribution to SAR 33 billion by 2040. Additionally, they aim to create up to 47,000 local jobs during the same period. The Public Investment Fund (PIF) recognizes metals and mining as a priority sector. As Ma'aden is majority-owned by PIF, it serves as an economic engine driving Saudi Arabia's transformation. Ma'aden doesn't just scratch the surface; it aims to grow tenfold by 2040. Their focus extends beyond mining-into strategic minerals that can boost downstream industries. In summary, Ma'aden's impact extends far beyond minerals-it's about shaping an entire economy, creating jobs, and securing Saudi Arabia's future.