Saudi Maaden hits over USD26b in investments

28 Oct 2015

(MENAFN) Maaden, the Saudi Arabian Mining firm has more than 25,000 employees in the mining segment and has invested USD26.6 billion in its numerous ventures.

Maaden has been seeing success after success ever since it became public, plus its profits from mining for phosphate, aluminum, gold and copper, were doubled touching USD2.9 billion.

Moreover, the company was shaped by a Royal decree in 1997 to help the development of Saudi Arabia’s mineral resources and was initially fully owned by the Saudi Government.

In particular, Maaden’s actions focused on growing its active gold business which now embraces five mines and over 11 million ounces of JORC compliant gold resources at exploration sites.

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