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Saudi Arabian Mining Company (1211) – Introduction and background |
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Saudi Arabian Mining Company (known also as Ma’aden) is the leading mining and metals company in Saudi Arabia.
Established in 1997, Ma’aden operates mining and processing concerns, and is the largest metals and mining company in Saudi Arabia. Ma’aden is divided into different segments including gold, phosphate, aluminum, and base metals. The different subdivisions operate independently, with the gold subsidiary headquartered in Riyadh, industrial metals in Jeddah, and the phosphates division in Ras Al-Khair. Ma’aden also extracts and processes aluminium in a joint venture with US metals company Alcoa.
Saudi Arabian Mining Company is publicly traded on Tadawul under the ticker 1211, although less than half of all shares are floated. The Public Investment Fund owns 67% of all shares, making this a state-controlled company with external shareholders. The next largest shareholders are passive investment funds including Vanguard and State Street.
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