Generation
Posted By OrePulse
Published: 07 Mar, 2025 09:48
Saudi Arabian mining giant Ma'aden's full-year net profit jumps 82%
Saudi Arabian Mining Company (1211.SE), known as Ma'aden, on Thursday reported 2024 net profit up 82% year on year at 2.87 billion riyals ($765.2 million).
Chief Executive Bob Wilt attributed the results to "record production" and the company's second-highest full-year revenue.
Ma'aden, which operates in gold, aluminium and phosphates, is a key pillar in Saudi Arabia's plan to diversify its economy away from hydrocarbons and is looking to expand mining capabilities in those commodities. ($1 = 3.7509 riyals)
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