Saudi Arabian Mining Company (Maaden) has reported solid results for the second quarter with its net profit surging 13% to SAR2.18 billion ($580 million) and its revenue hitting SAR10.9 billion ($2.87 billion), helped by higher commodity prices and increased gold sales volumes.
Saudi mining giant Maaden has entered into an agreement with Australian group Midana Exploration (Hancock) to set up a new joint venture for conducting mineral exploration, development and mining in licensed areas across the kingdom.
Saudi Arabian Mining Company (Maaden), one of the world’s fastest growing mining companies, today reported a 24% year-on-year (YoY) revenue growth to SAR27.9 billion ($7.44 billion) for nine-month (9M) period ended September 30, 2025 (9M-FY24: SAR22.6 billion), driven by higher sales volumes and stronger commodity prices.
Saudi Arabian Mining Company (Maaden) has announced that it has awarded a major engineering, procurement and construction management (EPCM) contract worth SAR391 million ($104.3 million) to Bechtel for its Ar Rjum gold mine.
Metso, a global leader in sustainable gold processing technologies, has secured a major contract from Saudi mining giant Maaden to supply a gold processing plant for its Ar Rjum mine located in Makkah. The contract covers commissioning and advisory services for equipment installation.
