Saudi: Maaden confirms investments worth $26.6bn
Joint investments from Ras Al-Khair Industrial City, located 80km north of Jubail, are worth $34.6bn, Maaden's CEO said
Saudi Arabian Mining Company (Maaden) announced its total investment in projects now exceeds $26.6bn (SAR100bn).
Khalid Al-Mudaifer, president and CEO of Maaden, said the company has consistently performed well since it went public in 2008.
Maaden's profits from mining for phosphate, aluminum, gold, and copper are worth $2.9bn (SAR11bn).
Joint investments from Ras Al-Khair Industrial City, located 80km north of Jubail, are worth $34.6bn (SAR130bn).
Maaden was formed by a royal decree in 1997 to facilitate the development of Saudi Arabia's mineral resources.
According to Arab News, the company was wholly owned by the Saudi government before 50% of its shares were floated on the Saudi Stock Exchange (Tadawul) in 2008.