Saudi Arabian Mining Company Ma Aden
Ma aden saudi arabian mining co is a diversified mining company active in gold base metals mining and infrastructure industry.
Saudi arabian mining company ma aden. Saudi arabian mining ma aden has reached commercial production output at the ad duwayhi gold mine in w saudi arabia mbm reuters reports. Ma aden is among the fastest growing mining companies in the world and the largest multi commodity mining and metals company in the middle east. We pioneered the mining industry in saudi arabia.
Otherwise known as ma aden saudi arabian mining company explores and extracts phosphates aluminum and precious metals such as gold silver magnesium and zinc. Saudi arabian mining co sjsc is a saudi arabia based company which is engaged in the mining sector. Ma aden is becoming a key player in the long term diversification of.
Ad duwayhi has reserves of 1 9moz. The new laws allow for companies to work either with saudi s parastatal saudi arabian mining company ma aden or through joint ventures with local companies. Km in the arabian peninsula.
It has a production capacity of 9 4 tonnes and 14 2 tonnes of gold and silver a year and mines an area of roughly 60 000 sq. Ma aden was formed by royal decree in 1997 to facilitate the development of saudi arabia s mineral resources and was originally wholly owned by the saudi government before 50 of its shares were floated on the saudi stock exchange tadawul in 2008. Ma aden is among the fastest growing mining companies in the world and the largest multi commodity mining and metals company in the middle east.
Ma aden was formed as a saudi joint stock company on 23 march 1997 for the purpose of facilitating the development of saudi arabia s mineral resources. The open pit mine has an estimated average annual production capacity of 180 000oz with the financial effect expected to show in the q2 2016 financials. Stock analysis for saudi arabian mining co maaden saudi arabia including stock price stock chart company news key statistics fundamentals and company profile.
Ma aden pioneered the mining industry in saudi arabia building a world class unique and fully integrated mining value chain. Recent changes in saudi arabia s mining laws have created conditions which allow greater access for foreign investment in the kingdom s mining sector. The companyâ s principal mining activities are at the mahd adâ dahab al hajar bulghah al amar sukhaybarat as suq al jalamid az zabirah al ghazallah and al baitha mines.
