Zimbabwe's spodumene exports surge 30% despite weak lithium prices
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Zawya
2 hours ago
- Zawya
Zain Group posts $3.5bln revenue for H1, net profit up 49%
Zain Group, a leading provider of innovative ICT and digital lifestyle communications, operating in eight markets across the Middle East and Africa, has reported exceptional performance for the first half with its revenue soaring to hit KD1.1 billion ($3.5 billion), up 14% over last year, while its net profit surged 49% to hit KD121 million ($395 million). Announcing its consolidated financial results for the six-month period ended June 30, 2025, Zain said the net profit for H1 includes one-time gain of KD15 million ($50 million) on settlement of legal dispute involving INWI, of which Zain Group is a 15.5% shareholder (via Zain Al Ajial). The group's H1 2025 earnings per share stood at 28 fils ($0.09), while its ebitda grew 10% YoY to reach KD356 million ($1.2 billion), reflecting a 33% margin. The leading telecom group said it had served 50.9 million customers at the end of H1, a 7% increase Year-on-Year (YOY), driven by network restoration in Sudan and expansion in Iraq. The data revenue grew 8% YoY to reach $1.3 billion, representing 37% of total group revenue. On the Q2 results, Zain Group said its revenue grew 13% to reach KD541 million ($1.8 billion) compared to Q2 2024. Ebitda hit KD186 million ($606 million), reflecting a healthy ebitda margin of 34%. Net income soared 40% to reach KD73 million ($237 million), reflecting earnings per share of 17 fils ($0.05), it stated. Commenting on solid results, Group Chairman Osamah Al Furaih said: "Our strong performance underscores the productive alliance between the Board and executive management teams of all our entities in delivering our '4WARD—Progress with Purpose' strategy. Our focus on acceleration, collaboration, and digital innovation, alongside our ESG commitments, is having comprehensive impact on sustainable value creation for all stakeholders." "Moreover, constructive relationships with regulators and key stakeholders are also driving meaningful connectivity across all customer segments," he stated. "Following this H1 2025 performance and solid financial position, the Board is pleased to declare a fifth consecutive interim dividend of 10 fils per share, in line with our minimum annual dividend policy of 35 fils," he added. Zain Vice-Chairman and Group CEO Bader Al Kharafi said: "Our outstanding operational and financial performance over the past six months is the result of carefully executed strategic investments in network expansion and AI technologies, combined with disciplined cost optimization and focused monetization of our enterprise, fintech, and digital service portfolios." "We are committed to sustaining this positive momentum and elevating Zain to even greater heights," he noted. Al Kharafi said: "Despite fierce competition in our home market of Kuwait - which still delivered solid results - our core operations across all major markets made notable strides. Sudan, Saudi Arabia, and Iraq, in particular, recorded exceptional double-digit net income growth." "Furthermore, our ICT enterprise arm, ZainTech and our global wholesale carrier, Zain Omantel International (ZOI), performed exceptionally well, as did our fintech and digital service portfolios across multiple markets," he added. On the performance of its Kuwait market, Zain Group said its flagship and most profitable operation maintained its market leadership position, with a customer base of 2.6 million. Revenue for Q2 reached KD94 million ($306 million) while ebitda reached KD34 million ($111 million), reflecting an ebitda margin of 36%. Net income stood at KD23 million ($74 million). For the six-months period, net income stood at KD41 million ($132 million). H1' 2025 data revenue grew 2% representing 36% of total revenue. On Saudi market, Zain said its revenue for the quarter grew 4% YoY to reach $708 million, while ebitda grew 9% to reach $227 million. Net income for Q2 2025 grew 21% to $34 million. For the six-months period, net income grew 28% to reach $59 million. The operator's 5G-Advanced network boosted data revenue by 4% to represent 40% of total revenue while total active customers served stood at 8.3 million, said the MEA telco giant. The operator saw significant growth in revenue from the enterprise sector and from its 'Yaqoot' digital operator service. Its fintech arm 'Tamam' is driving financial and digital inclusion across the Kingdom, providing instant approvals for micro-finance loans, continuing its upward trajectory, while breaking historical records on the number and amount of loans disbursed, it added.- TradeArabia News Service Copyright 2025 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Zawya
3 hours ago
- Zawya
Algeria approves landmark mining law
Algeria has approved a new law to open up its mining sector to foreign investors as part of a drive to tap its mineral wealth and diversify sources of income. Algerian president Abdelmadjid Tebboune has signed the new law which was published in the official gazette last week, two months after it was passed by parliament. The law comprises bolder measures to advance the sector, including the introduction of an electronic portal to inform investors of available mining sites. 'The new law also includes easier and quicker procedures for investors and a set of facilities to encourage investors and build confidence among them,' the Arabic language daily Elkhabar said. 'Through this law, Algeria seeks to rebuild confidence among both local and foreign investors by simplifying administrative procedures, protecting investor rights, and relying on a long-term strategic vision that makes the mining sector a lever for sustainable economic development amidst growing global demand for strategic minerals,' it added. Algeria's energy and mining ministry said this year the new law aims to 'improve the mining investment climate by simplifying access procedures to exploration and exploitation activities, making procedures more transparent and providing more encouraging conditions for both national and foreign investors.' (Writing by Nadim Kawach; Editing by Anoop Menon)
Zawya
3 hours ago
- Zawya
Oman signs mining deals worth $498mln
The agreements are part of the government's wider strategy to diversify the economy, boost local manufacturing and create sustainable job opportunities. The Ministry of Energy and Minerals has signed three new exploration and mining agreements with two specialised companies, marking a significant step in strengthening Oman's mining sector, maximising the added value of mineral resources and attracting investment to priority geological areas. The agreements are part of the government's wider strategy to diversify the economy, boost local manufacturing and create sustainable job opportunities for Omanis. The first agreement grants Gulf Mineral Materials Company exploration and mining rights in Concession Area 11-C, located in Al Buraimi Governorate. Spanning 1,089 square kilometres, the concession is distinguished by its ophiolite rock series, with promising indicators of copper and chromium ore deposits. The initial phase of the project, expected to last two to three years, will involve topographical mapping, geochemical and geophysical surveys, as well as drilling and exploratory trenching to determine the commercial viability of mining operations. The second and third agreements, signed with Novel Muscat International Company, cover Concession Areas 51-G1 and 51-G2 in Al Wusta Governorate. In Area 51-G2, covering 30 km², the company will develop an integrated industrial project that includes a plant to produce salts and sodium carbonate (soda ash) using seawater transported to evaporation basins for drying and processing. In Area 51-G1, which extends over 558 km², a hydrated lime production facility will be established. Initial work will focus on identifying the location, quality and reserves of raw materials within geological formations rich in silica, limestone and various clays. Combined, these projects represent a total investment of RO 192 million ($500 million), including the cost of establishing industrial facilities, conducting feasibility studies and implementing mining plans in line with international standards. Eng Salim bin Nasser al Aufi, Minister of Energy and Minerals, stressed that the mining sector is a key driver of Oman's economic growth and diversification. He noted that these agreements reflect the ministry's commitment to attracting high-quality investments that can transform raw mineral resources into advanced manufacturing industries, thereby supporting national value chains and opening new opportunities for local talent. Abdullah bin Ahmed al Hadi, CEO of Gulf Mineral Materials, highlighted the company's track record, including its successful development of the ferrochrome plant in Suhar in partnership with international strategic partners. The facility's production capacity is set to increase to 7,200 tonnes per month by 2026, with a focus on operational sustainability, technology localisation and SMEs participation. Hamoud bin Said al Aufi, Managing Director of Novel Muscat International, emphasised that the projects will contribute to Oman's manufacturing sector by producing high-value products locally, generating skilled employment and supporting sustainable development. The ministry views these agreements as part of its long-term vision to build an integrated, globally competitive mining industry that enhances Oman's position as a regional hub for advanced mineral-based industries. 2025 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
