Saudi Arabian Mining Company (Maaden) said its phosphate joint venture with Saudi Basic Industries Corp (Sabic) has begun initial production at the new plant.

'Maaden today announces that Maaden Phosphate Company (MPC) started initial production on Friday from the first production lines of sulphuric acid, phosphoric acid for captive use and Diammonium Phoshate Fertilizer (DAP),' Maaden said in a bourse statement on Saturday.

Sabic owns 30 per cent in the joint venture, while Maaden holds the remainder. The joint venture will produce about 3 million tonnes per year of DAP when it reaches full production, the statement said.-Reuters