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Saudi Arabian Mining Company (Ma’aden), one of the world’s fastest-growing global mining companies, is celebrating the fifth anniversary of Saudi Arabia’s Vision 2030.
As a key industry player in the kingdom, Maaden has implemented significant incentive programmes and announced major reforms in the last five years to accelerate the development of the mining industry as a strategic pillar of the Saudi economy.
This includes the recently launched mining investment law aimed at attracting investors and paving the way for the full utilisation of Saudi Arabia’s mineral resources, which are estimated to be worth more than $1.3 trillion.
This goes in line with the objectives of the National Industrial Development and Logistics Program (NIDLP), one of the most important programs for achieving Vision 2030.
The kingdom’s mining champion highlights key achievements since the Vision 2030 launch and plans that reflect its commitment to the kingdom’s social and economic development.
Ma’aden has kept its projects across a range of commodities moving on a strong growth trajectory since 2016.
The company has expanded its investment portfolio, refinanced key projects, and made its first international acquisition, laying the foundation for future growth and new investment opportunities in the Saudi mining industry.
Despite some challenges in 2020 due to Covid-19, Ma’aden managed to maintain its agility and remained focused on its goal to become a global Saudi mining giant, while adhering to the highest standards of health, safety, and environment.
Located on the east coast of Saudi Arabia, Ras Al Khair Industrial City jumpstarted the mining industry development in Saudi Arabia, leveraging the country’s strategic location in connecting three continents.
In November 2016, Ras Al-Khair Industrial City was further expanded and connected via railway to Ma’aden’s bauxite mine in Qassim and phosphate mine in Al Jalamid, making it a cornerstone of the Kingdom’s mineral and metal production and export industries.