“United Mining”: Adjusting gas prices used in production will raise sales costs by 4.5%

United Mining Industries Company announced that the approximate financial impact of adjusting the prices of gas used in production operations is an increase in sales costs estimated at 4.5%.

The company said in a statement today on “Tadawul” that this effect is expected to appear starting from the results of the first quarter of the year 2024 AD, stressing that it will work during the coming period to examine ways to reduce the financial impact of this amendment on the financial results.

This comes in addition to the company’s announcement published on the Tadawul website on 06/26/1445 AH corresponding to 01/08/2024 AD regarding its receipt of a letter from the electricity and water utilities in Jubail and Yanbu amending gas prices based on the notice sent to it from the Saudi Arabian Oil Company (Aramco) regarding an increase in gas prices.