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MarketScreener Homepage  >  Equities  >  Saudi Arabian Stock Exchange  >  Saudi Arabian Mining Company (Ma'aden)    1211   SA123GA0ITH7

SAUDI ARABIAN MINING COMPANY (MA'ADEN)

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Saudi Arabian Mining Ma'aden : Ma'aden signs major Memorandums of Understanding (MOU) with “Alcoa” & “MOSAIC” at the Saudi-U.S. CEO Forum in Riyadh

05/20/2017 | 02:55pm EST

Riyadh, 20 May 2017: Two landmark MOUs were signed today to tap Saudi Arabia's mining sector's significant potential, between Saudi Arabian Mining Company Ma'aden and its partners U.S.-based companies Alcoa and Mosaic. The major Memorandums of Understanding (MOU), signed at the inaugural Saudi-U.S. CEO Forum in Riyadh, provide fresh impetus to the mining sector in the Kingdom, identified as having strong growth prospects in Saudi Vision 2030, the national strategic blueprint for economic diversification.

The first MOU, Ma'aden and Alcoa Corporation announced today the signing of a Memorandum of Understanding (MOU) to consider further development for the existing partnership. The signing took place at the Saudi-US CEO Forum in Riyadh. Under the MOU, Ma'aden and Alcoa will assess the feasibility of a potential expansion of smelting capacity in the Kingdom of Saudi Arabia. Ma'aden and Alcoa jointly developed the first and only fully integrated high efficiency aluminum production complex located in Ras Al-Khair Industrial City.

Since formed by the partners in 2009, the Ma'aden-Alcoa joint venture complex has made a contribution of approximately USD 4 billion to the Kingdom of Saudi Arabia's GDP. The joint venture supports 3,500 direct jobs and 12,000 indirect jobs. If the expansion were to proceed, primary aluminum capacity could be increased by 600,000 metric tons per year and result in over 3,000 high quality direct and indirect jobs. Alcoa holds a 25.1% investment in the Ma'aden-Alcoa joint

The second MOU, 'With the nearing completion of construction of the Ma'aden Wa'ad Al Shammal Phosphate project, Ma'aden and The Mosaic Company announced today the signing of a Memorandum of Understanding (MOU) to further highlight and commemorate the partnership between the two mining and fertilizer business leaders. The MOU contemplates several areas of potential collaboration in the phosphate business in the Kingdom of Saudi Arabia. Mosaic, Ma'aden and their partner SABIC have already invested about USD 8 billion in developing the project.

Separately, further to its previous announcement, Ma'aden is advancing a third project for the manufacture of phosphate fertilizers in the Kingdom. The project, which is anticipated to be implemented in phases starting production early in the next decade, envisions adding up to an additional 3 million tons per year of production capacity with a total investment estimated to be USD 6.4 billion. The project is subject to the completion of definitive studies and obtaining necessary Board approvals and consents. Estimated benefits from the project include a GDP contribution of about USD 2.4 billion and total employment of 7,000, many of which would be high quality jobs.'

For further information please contact:

Mr. Bander M. Al-Aida
Section Head, Media Relations

E: media@maaden.com.sa

Ma'aden - Saudi Arabian Mining Company published this content on 20 May 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 20 May 2017 18:54:18 UTC.


© Publicnow 2017
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Financials
Sales 2020 17 469 M 4 658 M 4 658 M
Net income 2020 -645 M -172 M -172 M
Net Debt 2020 44 088 M 11 756 M 11 756 M
P/E ratio 2020 -78,5x
Yield 2020 -
Capitalization 50 700 M 13 519 M 13 519 M
EV / Sales 2020 5,43x
EV / Sales 2021 5,12x
Nbr of Employees -
Free-Float 32,8%
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Saudi Arabian Mining Company (Ma'aden) Technical Analysis Chart | 1211 | SA123GA0ITH7 | MarketScreener
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Mean consensus UNDERPERFORM
Number of Analysts 9
Average target price 34,89 SAR
Last Close Price 41,20 SAR
Spread / Highest target 18,9%
Spread / Average Target -15,3%
Spread / Lowest Target -46,6%
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Managers
NameTitle
Mosaed bin Sulaiman Al-Ohali Chief Executive Officer
Yasir bin Othman Al-Rumayyan Non-Executive Chairman
Khaled Al-Khattaf Chief Financial Officer & Senior Vice President
Khalid bin Saleh Al-Mudaifer Non-Executive Director
Sulaiman Abdulrahman Al-Gwaiz Deputy Chairman
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