DUBAI, Aug 13 (Reuters) - Saudi Arabian Mining Company (1211.SE), known as Ma'aden, said on Sunday its second-quarter profit tumbled more than 90% on lower sales prices and higher expenses as it flagged a mixed outlook for its products. That missed analysts' average estimate of 577.6 million riyals in net profit for the second quarter, according to Refinitiv data. "We are beginning to see an improvement in raw material pricing and, despite the challenging market environment, remain well placed to meet the growing long-term demand for our products," Ma'aden Chief Executive Robert Wilt said in a statement. Ma'aden expected prices of ammonia to remain stable in the third quarter "as supply tightness continues to provide marginal upside." Ma'aden sees gold trading in its current range for the rest of the year and raw material prices continuing to ease, "supporting profitability."

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Persons: Ma'aden, Robert Wilt, Yousef Saba, Bernadette Baum Organizations: Saudi Arabian Mining Company, Thomson Locations: DUBAI, Saudi, Americas