Ma’aden CEO: We have achieved record quarterly phosphate ‎production to enhance our leading role in global fertilizer ‎market

Robert Welt, CEO of Saudi Arabian Mining Company “Ma’aden”, said that the company achieved record quarterly levels in phosphate production, in light of our endeavor to enhance our leading role in the global fertilizer market, indicating that this achievement reflects the firm development commitment under the umbrella of the transformation program in Ma’aden. And our strategic goals for the year 2040

He continued: “We will certainly continue our endeavor to develop our business and support the next stage of growth, which confirms the need to strengthen efforts to raise the level of our flexibility to implement the next stage in the best way, and we are currently making remarkable progress in expanding the company’s operations and applying a more efficient business model and strengthening the company’s leading role.” It will enable it to transform the mining sector into the third pillar of the Saudi economy.”

Today, the company announced its financial results for the second quarter of the year 2023 AD, with revenues amounting to 6.97 billion riyals, while net profit amounted to 351 million riyals.

Ma’aden stated that long-term loans decreased by 11%, and net debt by 9%, as of December 2022, including the early repayment by Ma’aden Wa’ad al-Shamal Phosphate Company (MWSPC) of debts amounting to 3 billion riyals.