Mining

��Ƶn Mining Co. (Ma’aden)

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Thu, 2024-11-21 16:04

RIYADH: ��Ƶn Mining Co., or Ma’aden, has issued a shareholder circular outlining the terms of its plan to raise its share capital to SR38.03 billion ($10.1 billion) from SR36.92 billion to boost its phosphate business.

The move follows an earlier announcement to acquire a 25 percent stake in Ma’aden Wa’ad Al-Shamal Phosphate Co. from Mosaic Phosphates B.V., increasing its ownership in the joint venture to 85 percent.

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Ma’aden

Saudi industrial, mining sectors offering lucrative opportunities for entrepreneurs, minister says

owen.bennett — Wed, 20 Nov 2024 10:54:29 +0000

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MOHAMMED AL-KINANI

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Wed, 2024-11-20 13:49

JEDDAH: ��Ƶ’s industrial and mining sectors are harboring promising opportunities for youth and entrepreneurs, the Kingdom’s industry minister has insisted.

Speaking during the Misk Global Forum 2024 in Riyadh, Bandar bin Ibrahim Alkhorayef said that these opportunities go beyond direct investment to include the development of innovative ideas to improve production efficiency, manufacturing quality, and energy conservation in industrial facilities.

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Bandar bin Ibrahim Alkhorayef

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MISK GLOBAL FORUM

Number of active mining licenses in ��Ƶ reaches 2,295

Sajjadkk — Wed, 13 Nov 2024 20:10:09 +0000

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Arab News

Wed, 2024-11-13 22:54

RIYADH: ��Ƶ’s Ministry of Industry and Mineral Resources issued 35 new mining licenses in September, the Saudi Press Agency reported on Wednesday citing the National Center for Industrial and Mining Information.

These permits included 24 exploration licenses, seven quarry licenses for building materials, three reconnaissance licenses, and 1 mining exploitation and small mine license.

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Saudi Ministry of Industry and Mineral Resources

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Mining licenses

Mining industry accelerates decarbonization with AI and tech investments: KPMG report

sarah.glubb — Mon, 11 Nov 2024 09:45:35 +0000

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Mon, 2024-11-11 12:39

RIYADH: The metals and mining sector is accelerating decarbonization, digital transformation, and resilience, with 55 percent of executives prioritizing emissions reduction, according to a new survey report.

KPMG’s 2024 Global Metals and Mining Outlook revealed that nearly half — 47 percent — of mining executives view technology investments as essential to transforming carbon footprints over the next five years.

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��Ƶ pushes forward with industrial and mining strategies at UNIDO MIPF 2024

sarah.glubb — Wed, 23 Oct 2024 11:39:18 +0000

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Wed, 2024-10-23 14:37

RIYADH: ��Ƶ’s Minister of Industry and Mineral Resources has emphasized the importance of industrial and mining sectors in achieving the country’s Vision 2030 goals of economic diversification.

At the UN Industrial Development Organization Multilateral Industrial Policy Forum panel discussion in Riyadh, Bandar Alkhorayef said that the Kingdom’s vision encompasses economic diversification, underlining that from the initiative’s beginning, it was evident that sectors like industry and mining held the greatest potential for achieving this diversification.

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UN Industrial Development Organization General Conference

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��Ƶ

Bandar Alkhorayef

Saudi Ministry of Industry and Mineral Resources

UNIDO

��Ƶ opens bidding for 7 mining licenses in Makkah and Riyadh regions

sarah.glubb — Tue, 22 Oct 2024 14:52:15 +0000

article author:

NOUR EL-SHAERI

Author:

Tue, 2024-10-22 17:39

RIYADH: ��Ƶ has invited local and international investors to compete for seven mining exploration licenses across the Makkah and Riyadh regions, covering a combined area of 1,070 sq. km.

The exploration licenses cover sites rich in valuable minerals such as gold, copper, zinc, lead, and silver. Four of the sites are located in the Makkah region, including Wadi Al-Lith, which spans 243 sq. km and holds deposits of copper, zinc, and gold.

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Saudi minerals

Saudi state-backed funds eye stakes in Canadian mining firms, says industry minister

owen.bennett — Wed, 02 Oct 2024 13:42:14 +0000

article author:

Mohammed Al-Kinani

Author:

Wed, 2024-10-02 16:34

JEDDAH: State-backed Saudi funds are seeking to acquire stakes in Canadian mining firms as part of efforts to enhance the Kingdom’s global influence in the sector and diversify its economy beyond oil, said a top minister.

During his visit to the North American country, Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef asserted that there are no barriers to the Kingdom’s investments in the Canadian mining sector, despite local regulations that restrict investments by foreign state-owned entities, as reported by Al-Arabiya TV channel.

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Minister of Industry and Mineral Resources Bandar Alkhorayef

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saudi-canada

Saudi Ma’aden acquires SABIC’s 21% shareholding in Bahrain’s Alba

owen.bennett — Tue, 17 Sep 2024 13:56:57 +0000

article author:

Nirmal Narayanan

Tue, 2024-09-17 16:53

RIYADH: ��Ƶn Mining Co. has signed an agreement to acquire Saudi Basic Industries Corp.’s 20.62 percent shareholding in Aluminium Bahrain, or Alba, as it continues to pursue regional growth opportunities.

According to a press statement, the sale proceeds are expected to be within a range of SR3.62 billion ($960 million) and SR3.97 billion.

The decision to acquire SABIC’s share comes just a day after the mining firm, also known as Ma’aden, signed a non-binding agreement with Alba to potentially create a global aluminum producer.

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��Ƶn Mining Co. (Ma’aden)

Saudi Basic Industries Corp. (SABIC)

Qatar’s industrial production rises by 6% in July, driven by mining sector growth

sarah.glubb — Mon, 16 Sep 2024 12:29:18 +0000

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Industrial Production Index

Mon, 2024-09-16 15:23

RIYADH: Qatar’s industrial production index rose by 6 percent in July, reaching 103.2 points, driven by the mining sector, official data showed.

The National Planning Council reported a month-on-month increase of 5.5 percent in the mining sector in July, primarily due to higher production of crude oil, petroleum, and natural gas. Other mining and quarrying activities also grew by 11 percent.

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Finance

SMEs account for 90% of Saudi industrial and mining sectors: Minister

owen.bennett — Mon, 16 Sep 2024 09:37:56 +0000

article author:

MANAL AL-BARAKATI

Mon, 2024-09-16 12:32

RIYADH: Small and medium enterprises constitute 90 percent of ��Ƶ’s industry and minerals companies, revealing that the sector is not “exclusive” to top players, according to a senior official.

The comments by the Kingdom’s Minister of Industry and Mineral Resources, Bandar Alkhorayef, were made during a dialogue session at an event organized by the General Authority for Small and Medium Enterprises, known as Monsha’at, the Saudi Press Agency reported.

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small and medium enterprises

General Authority for Small and Medium Enterprises (Monshaat)

Bandar Alkhorayef

��Ƶ

AMAK joins hands with UK firm to advance exploration in ��Ƶ

owen.bennett — Tue, 10 Sep 2024 09:02:07 +0000

article author:

Nirmal Narayanan

Tue, 2024-09-10 11:38

RIYADH: Saudi firm Al-Masane Al-Kobra Mining Co. has signed a letter of intent with UK-based Power Metal Resources to establish a joint venture to advance exploration in the Kingdom’s Qatan mining site.

According to a Tadawul statement, Al-Masane Al-Kobra Mining Co., or AMAK, will own a 51 percent stake in the JV, while the London-listed company will possess the remaining 49 percent.

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Al-Masane Al-Kobra Mining Co

Power Metal Resources

Mining firm AMAK to focus on gold production and operational expansion in 2025

owen.bennett — Mon, 09 Sep 2024 10:51:16 +0000

article author:

Nadin Hassan

Mon, 2024-09-09 13:16

RIYADH: Saudi firm Al-Masane Al-Kobra Mining Co. will focus on gold deposit production and operational expansion as part of a growth plan to strengthen its industry position through 2025.

This effort is to ensure ongoing operational excellence and boost production capacity, thereby creating value for all stakeholders and benefiting the local community, the company said on Tadawul.

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Al-Masane Al-Kobra Mining Co

Qatar’s non-mining and quarrying activities rose 1.7% in Q4 2023: official data

sarah.glubb — Sun, 01 Sep 2024 10:53:37 +0000

article author:

Nirmal Narayanan

Sun, 2024-09-01 13:27

RIYADH: Qatar’s non-mining and quarrying activities increased by 1.7 percent year-on-year in the fourth quarter of 2023 to 114.60 billion Qatari riyals ($31.39 billion), according to the latest data.

The country’s non-mining activities also witnessed a rise of 2.4 percent in the final three months of last year compared to the previous quarter of the same year, Qatar’s Planning and Statistics Authority revealed.

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��Ƶ offering over 120 enablers to mining investors: top official

owen.bennett — Thu, 22 Aug 2024 10:41:21 +0000

article author:

REEM WALID

Thu, 2024-08-22 13:38

RIYADH: ��Ƶ’s industry and mining system provides over 120 enablers and incentives for investors in the sectors, enabling them to exploit promising opportunities, according to a top official.

Speaking during a meeting with investors at the Najran Chamber, Minister of Industry and Mineral Resources Bandar Alkhorayef explained that those catalysts also contribute to addressing challenges facing their investment journey, according to the Saudi Press Agency.

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