SAUDI ARABIAN MINING CO
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A mining company that develops and exploits mineral products and by-products in Saudi Arabia. The company, with registered head office located in Riyadh, Saudi Arabia, was founded in 1997.
The company is engaged in the development and production of various types of minerals. It handles gold, phosphate, and aluminum projects in the Arabian Peninsula. It has a total production capacity of 14.2 tons of silver and 9.4 tons of gold per year. In April 2007, the company entered into a joint venture with Canada-based Alcan Incorporated to build one of the largest vertically integrated operations of its kind in the world. It would hold the controlling stake in a SAR20.85 billion (USD5.56 billion) integrated aluminum mining project, which will feature a 1,400 megawatt power plant; a 90-million-metric-ton bauxite reserve in Al Zabirah in northern Saudi Arabia; an alumina refinery, with a capacity of 1.6 million tons a year; an aluminum smelter with a capacity of 720,000 tons a year. In June 2007, it also entered into a strategic partnership with Saudi Basic Industries Corporation (SABIC) to build one of the largest phosphate mines in the world, a SAR13 billion (USD3.47 billion) project to develop Saudi Arabia’s Ras Al Zour phosphate reserves into fertilizers.
The Company is mainly engaged in mining metal and non-metal ores.
Description and history
The Company is mainly engaged in mining metal and non-metal ores. The Company sets up and develops mining and mineral processing facilities for the mining industry, mineral products and by-products, and related industries in Saudi Arabia. It also invests in companies and participates in the development and production of all types of minerals independently or in joint ventures with foreign companies.
The Company is a Saudi Arabia-based company on March 23, 1997 (corresponding to 14/11/1417H) and was registered under registery No. 1010164291 on February 4, 2001.
The Company is listed on Saudi Stock Exchange (Tadawul) in 28 July 2008.
Develops and exploits mineral products and by-products in Saudi Arabia
SAUDI COMPANY FOR PRECIOUS METALS
PRICE WATERHOUSE COOPERS(AL JURAID & PARENTS)
US SIC Code
P.O. Box 68861
Al Maazar Street
City province or state postal code
Phone: +966 1 472 1222
Fax: +966 1 472 1333
Country address: SAUDI ARABIA
Website url: www.maaden.com.sa