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

Maaden's projects are worth $26.6bn. [Representational image]
Maaden's projects are worth $26.6bn. [Representational image]

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. 

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