Ma’aden is the leading mining and metals company in Saudi Arabia and one of the fastest-growing mining companies in the world. From operating one small gold mine, Ma’aden now operates multiple facilities across integrated value chains in gold, copper, aluminium, phosphate and industrial minerals.
We are building a minerals based industry in Saudi Arabia by producing a broad range of commodities for domestic and global markets. Ma’aden is building industrial cities, creating jobs and enabling communities to prosper.
Growing dramatically since its IPO in 2008, Ma’aden has become a top ten global mining company based on market capitalization. The company has grown its assets ten-fold to USD 26 billion dollars, its earnings from USD 3 million to USD 1 billion, and its market capitalization from USD 200 million to USD 6 billion.
As a result of a renewed focus on mining in Saudi Arabia and in support of Saudi Vision 2030, Ma’aden is adopting a new strategy focused on maximizing the value of its assets and strengthening foundations for growth; furthering the growth of the Kingdom’s mining sector as the national champion; developing partnerships to grow outside the Kingdom and; continuously pursuing sustainability and building best in class capability. These key pillars are anchored on Ma’aden’s vision of becoming a sustainable mining champion with a global presence, supported by a strong performance culture and a robust governance structure.
At Ma’aden, we have been focused on enhancing our competitive advantages in a number of areas. With our strong international joint venture partners and our Saudi government partners, together we have invested USD 45 billion in Saudi mining, and we have built two world class mineral cities in Ras Al Khair and Wa’ad Al Shamal.
Ma’aden has made great progress in its pursuit of operational excellence, and in maintaining a globally competitive cost of operations while continuously investing in safety performance, human capital development and information security.
At the core of its operations, Ma’aden is working to embed sustainability across the entire organization. A policy on local hiring and local spending requirements ensures that the benefits of the mining sector are shared with local communities. In remote areas, over two thirds of employees are from local communities. We’re partnered with the Saudi Mining Polytechnic in the north of Saudi Arabia in providing training for students, graduates and our existing employees.
By 2020, the National Transformation Program targets employment in the Saudi mining sector to grow from 65,000 to 90,000 jobs, while the contribution of mining to national GDP will grow from USD 17 billion to nearly USD 26 billion.
Under Saudi Vision 2030, mining in Saudi Arabia is identified as a key area of growth and key contributor to the diversification of the Kingdom’s economy. Ma’aden is well placed to be the champion of the Saudi mining sector.