28 Mar Saudi mining giant Ma’aden joins the GMG community
Leader in the region continues to expand its position in the mining industry
(MONTRÉAL, QUÉBEC, March 28, 2022) Global Mining Guidelines Group (GMG) welcomes Ma’aden to its membership, the first mining company from Saudi Arabia to do so. A fast-growing enterprise that includes a mineral portfolio of phosphate, aluminium, gold, copper, and others, Ma’aden continues to diversify its portfolio to encompass a wide range of industries.
The Saudi based company pioneered the mining industry in the region by creating a fully integrated mining value chain. This has paved the way the development of the Saudi Arabian economy well into the future, and mining is now the third pillar of Saudi industry, a key pillar in delivering Saudi Arabia’s Vision 2030 economic diversification plans.
Since its IPO in 2008, Ma’aden has transformed from a small gold producing company to a global mining powerhouse and one of the fastest growing mining companies in the world, and one of the top mining companies by market capitalization.
Capitalizing on this momentum, the company has set ambitious goals to continue its growth trajectory by leveraging the incredible natural mineral deposits in Saudi Arabia, increasing production rates in existing value chains, increasing exploration, and adding new strategic minerals to its portfolio.
“Ma’aden’s growth has been truly remarkable,” says Heather Ednie, GMG’s Chief Executive Officer. “They’ve become a leading force in the mining industry not only in the region, but globally. Collaboration remains a key component to solving many of the challenges facing the industry today and we’re certain their team of mining experts will bring a vast wealth of knowledge and experience to the Global Mining Guidelines Group.”
“We are pleased to join the Global Mining Guidelines Group and contribute to the advancement of the international mining industry” says Saud Al-Mandil, Vice President, Digitalization & Operational Excellence at Ma’aden. As we move forward, governance and sustainable reporting will be imperative for the global industry to advance and contribute to the development of industries from food and agriculture to electric vehicles. We will continue to work with our colleagues in the industry to ensure that the mining ecosystem operates in a sustainable and efficient manner.”
Ma’aden was wholly owned by the Saudi Government, before 50% of its shares were floated in 2008 for public subscription at the Saudi Stock Market (Tadawul). Ma’aden’s mine-to-market fertilizer business consists of three mega projects in Saudi Arabia: Wa’ad Al Shamal Industrial Minerals City in the North; Ras Al Khair Industrial City on the East coast, which is a phosphate and bauxite processing super-hub; and Phosphate 3, which encompasses expansions and new facilities in Wa’ad Al Shamal and Ras Al Khair.
In record time, Ma’aden has become the third pillar of Saudi industry and the leading multi-commodity company for the development of the Saudi mining and minerals industry, and among the fifteen largest global mining companies. Ma’aden is a key driver of Saudi Arabia’s position as one of the top three global producers and exporters of fertilizers and a key player in the stability of global food security.
The Global Mining Guidelines Group (GMG) is a network of like-minded companies driving change in the mining industry. Together, we help develop knowledge, educate, and guide the global mining industry. We monitor the pulse of the industry and develop multi-disciplinary guidelines and strategies to manage risk, enhance performance, design solutions, inform planning and decision making, and save time and money. Our members are mining companies, original equipment manufacturers (OEMs), original technology manufacturers (OTMs), research organizations and consultants from around the world who recognize that innovation does not happen in silos. GMG improves communication and facilitates collaboration to foster a more sustainable and efficient future for mining. Our multi-stakeholder working groups address topics such as interoperability, data access and usage, artificial intelligence, autonomous equipment, underground communication, battery-electric equipment, and comminution efficiency in mining.
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