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Top related persons:
Ma'aden - 1 Robert Wilt - 1 Yousef Saba - 1 Bernadette Baum - 1 Rachna Uppal - 1 Angus MacSwan - 1
Top related locs:
DUBAI Saudi Americas Manara
Top related orgs:
Saudi Arabian Mining Company - 2 Thomson - 2 Public Investment Fund - 1 Vale Base Metals - 1 Vale - 1

Search resuls for: "Saudi Arabian Mining Company"


3 mentions found


☆ Saudi Arabia's Ma'aden profit sinks 91% on lower prices, higher costs
  + stars: | 2023-08-13 | by ( ) www.reuters.com   time to read: +2 min
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."
Persons: Ma'aden, Robert Wilt, Yousef Saba, Bernadette Baum Organizations: Saudi Arabian Mining Company, Thomson Locations: DUBAI, Saudi, Americas
☆ Saudi Arabia's Ma'aden to acquire 10% of Brazil base metals firm - statement
  + stars: | 2023-07-30 | by ( ) www.reuters.com   time to read: +1 min
DUBAI, July 30 (Reuters) - Saudi Arabian Mining Company (1211.SE), known as Ma'aden, has agreed to acquire a 10% stake in Brazil's base metals company Vale, it said in a bourse statement on Sunday, as part of a strategy to invest in global mining assets. Ma'aden, through Manara, its joint venture established with the Public Investment Fund, on Thursday signed a binding agreement to acquire the 10% stake in Vale Base Metals, based on an enterprise value of $26 billion. "Manara’s investment into Vale will play a key role in helping it expand the production of copper and nickel across its asset portfolio, which are critical to the development of new technologies that will benefit the global energy transition," the company statement said. The transaction, which will be financed by Ma'aden's own resources, is subject to regulatory approvals and expected to be completed in the first quarter of 2024. Reporting by Rachna Uppal; Editing by Angus MacSwanOur Standards: The Thomson Reuters Trust Principles.
Persons: Rachna Uppal, Angus MacSwan Organizations: Saudi Arabian Mining Company, Public Investment Fund, Vale Base Metals, Vale, Thomson Locations: DUBAI, Saudi, Manara
☆ Saudi bourse gains on rising oil prices; Egypt falls
  + stars: | 2022-11-06 | by ( Ateeq Shariff | ) www.reuters.com   time to read: +2 min
Nov 6 (Reuters) - Saudi Arabia's stock market ended higher on Sunday in response to Friday's sharp rise in oil prices, while the Egyptian index slipped into negative territory following a recent rally. The benchmark index (.TASI) in Saudi Arabia gained 0.7%, led by a 1.6% jump in oil giant Saudi Aramco (2222.SE) and a 0.5% increase in Al Rajhi Bank (1120.SE). In Qatar, the index (.QSI) finished 0.8% higher, with Qatar National Bank (QNBK.QA), the Gulf's biggest lender, rising 1.9%. The Qatari bourse recorded an increase with natural gas prices continuing their rebound, Daniel Takieddine, CEO MENA at BDSwiss. read moreQatar, which hosts the 2022 FIFA World Cup this month, is one of the world's largest exporters of natural gas and has benefited from huge windfalls from soaring global oil and gas prices.
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