United Mining: Gas Price Adjustment to Raise Cost of Goods Sold by 4%

United Mining Industries Co. announced on Wednesday that the expected financial impact of adjusting the prices of gas used in production operations is estimated at an increase of approximately 4% in the cost of goods sold directly and indirectly, expected to appear starting from the results of the first quarter of 2025.

The Company stated in a statement on “Tadawul” that it will do its utmost to mitigate the financial impact, stressing its determination to adopt plans to reduce costs and raise production efficiency.

This comes in addition to the Company’s announcement published on the Tadawul website on Jan. 05, 2025 regarding the Company receiving a letter from the Power and Water Utility Company in Jubail and Yanbu to adjust the prices of gas used in production operations starting from Jan. 01, 2025.