Latest news with #Phosphate3
Zawya
07-03-2025
- Business
- Zawya
Saudi Ma'aden set capex guidance at up to $3bln in 2025
Saudi Arabian Mining Company (Ma'aden) plans to spend 8.6 billion to 10.6 billion Saudi riyals ($2.3-$2.8 billion) in capital expenditure in 2025, the miner said in its 2024 financial statement. Around 70 percent of the spend will be growth capex, it added. Growth capex is launched mainly by a company to expand existing operations or drive growth prospects. Phase one of the Phosphate 3 mega-complex is expected to be completed by the end of 2026, with production starting in 2027. The project is expected to reach full capacity by the end of 2027, the statement said. The plant will add 1.5 million tonnes (MT) annual capacity by the end of 2026, the Saudi-listed mining company said in its 2024 first-quarter financial results. (Editing by Anoop Menon) (
Arab News
19-02-2025
- Business
- Arab News
Saudi Arabia shortlists 30 firms for 22 quarry licenses in Eastern Province, Tabuk
JEDDAH: Saudi Arabia has shortlisted 30 companies for 22 mining licenses to extract sand and gravel in the Eastern Province and Tabuk, advancing its mining sector expansion and economic diversification. The Ministry of Industry and Mineral Resources said the permits cover Northwest Salwa Western Complex, Al-Masna Crushers Complex, and South Wadi Amq Complex. The process, which received 49 applications, marks another step in Saudi Arabia's push to develop mining as a third pillar of its industrial base, alongside oil and petrochemicals, with efforts ongoing to tap into the Kingdom's estimated $2.5 trillion of mineral wealth. In the Eastern Province, three companies — Saleh Abdul Aziz Al Rashid and Sons Co., Sana Al Sharqiya Contracting Co., and Asas Al Muasim Contracting Co. — have been prequalified for sand extraction at Northwest Salwa Western Complex. For gravel mining at Al-Masna Crushers Complex, northeast of Hafar Al-Batin, the contenders include Saleh Abdul Aziz Al Rashid and Sons Co., Sana Al Sharqiya Contracting Co., and Al-Yamamah Co. for Commercial Works and Contracting. Meanwhile, 24 companies will compete for gravel extraction rights at South Wadi Amq Complex in Tabuk, including Tabuk Modern Contracting Co., Mega Co., and Suleiman bin Saleh Al Muhailib Mining Co. In December, the Taadeen platform introduced a competitive bidding process to secure a stable domestic supply of essential construction materials. A month earlier, the ministry awarded 11 mining exploration permits covering 850 sq. km across Riyadh, Makkah, and Asir, with one national company and five alliances of 10 local and international firms securing rights. The ministry stressed that these efforts are crucial to maximizing the value of Saudi Arabia's mineral resources and establishing mining as a key pillar of the Kingdom's economic future. The news of the shortlist came in the same week as it was announced nearly SR29 billion ($7.7 billion) in investments is being directed toward the city of Wa'ad Al-Shamal as it aims to become a major hub for the Kingdom's mining industry. The vast majority of the funding — SR28 billion — is for the launch of Ma'aden's Phosphate 3 project, backed by the Shareek program. This initiative is set to increase Saudi Arabia's phosphate production capacity to 9 million tonnes annually, building upon the existing Phosphate 1 and Phosphate 2 projects, which each produce 3 million tonnes.
Zawya
18-02-2025
- Business
- Zawya
Ma'aden's $7.4bln Phosphate 3 project construction work launched
Saudi Arabia - Construction works on Ma'aden's Phosphate 3 project, with investments estimated at SAR28 billion ($7.47 billion), was launched on Monday in Wa'ad Al Shamal Mining City by Northern Borders Region Governor Prince Faisal bin Khalid bin Sultan bin Abdulaziz. He also launched several development and investment projects at a ceremony attended by Minister of Industry and Mineral Resources Bandar Alkhorayef, Vice Minister for Mining Affairs Eng Khalid Al-Mudaifer, and several public and private sector officials, said a Saudi Press Agency (SPA) report. Supported by the Shareek Program, Ma'aden's Phosphate 3 project is one of the region's largest mining ventures and aims to increase Saudi Arabia's phosphate production capacity to 9 million tons annually, including 3 million tons each from the Phosphate 1 and 2 projects. This expansion will contribute to developing the industrial supply chain, creating more investment and employment opportunities. The governor emphasised that these projects reflect the Saudi Vision 2030 goals of developing the mining sector and enhancing its contribution to the national economy. He stressed that Wa'ad Al Shamal has become a model for integrated industrial cities, combining major industries, logistics services, and modern residential communities, which enhances the region's appeal to both local and international investors. The ceremony also included the inauguration of several industrial, logistical, and service projects led by the Saudi Authority for Industrial Cities and Technology Zones (Modon), with investments exceeding SAR550 million. The projects involve developing industrial infrastructure across 4.3 million sq m, constructing 32 ready-built units consisting of 20 factories and 12 support units totaling 45,000 sq m, establishing a 132kV power substation with a 200MVA capacity and overhead transmission lines, and building a 7-km international road link bridge. These initiatives will improve logistics services, enhance energy reliability, and create an attractive investment environment, particularly for transformative industries linked to phosphate production. Furthermore, Prince Faisal inaugurated the expansion of Ma'aden's residential complex in Wa'ad Al Shamal in the presence of Alkhorayef. The expansion includes three new buildings, each containing 32 residential units, totaling 96 units. Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Arab News
17-02-2025
- Business
- Arab News
Saudi Arabia unveils $7.7bn mining investments in Wa'ad Al-Shamal
RIYADH: Saudi Arabia's mining sector is poised for a major boost with nearly SR29 billion ($7.7 billion) in investments being directed toward the city of Wa'ad Al-Shamal. Prince Faisal bin Abdulaziz, governor of the Northern Borders region, inaugurated a series of industrial, developmental, and hospitality projects aimed at solidifying the city's role as a major hub for the Kingdom's mining industry. A major highlight of the announcement was the launch of Ma'aden's Phosphate 3 project, backed by the Shareek program and an investment of SR28 billion. This initiative is set to increase Saudi Arabia's phosphate production capacity to 9 million tonnes annually, building upon the existing Phosphate 1 and Phosphate 2 projects, each producing 3 million tonnes. This expansion is expected to bolster the country's industrial supply chain, generate new investment opportunities, and create employment within the sector. The governor emphasized that these projects align with Saudi Vision 2030, which aims to expand the mining sector's contribution to the national economy. He highlighted that Wa'ad Al-Shamal has transformed into a model for integrated industrial cities, combining major industries, logistics services, and modern residential communities, which enhance its appeal to both local and international investors. The event was attended by Minister of Industry and Mineral Resources Bandar Alkhorayef, Deputy Minister for Mining Affairs Khalid Al-Mudaifer, and other key officials from both the public and private sectors. Additionally, the Saudi Authority for Industrial Cities and Technology Zones launched several new industrial, logistical, and service projects, with investments exceeding SR550 million. These projects include infrastructure development in the industrial zone, which spans 4.3 million sq. meters. As part of this initiative, 32 ready-built units have been established, consisting of 20 pre-built factories and 12 support units covering a combined area of 45,000 sq. meters. Further key developments include a 132 kilovolt, 200 megavolt-amperes power substation, overhead transmission lines, and a 7-km bridge connecting the industrial zone to the international highway. These projects aim to improve logistics and energy reliability, creating an attractive environment for investments, particularly in the phosphate industry. In addition, the governor inaugurated the expansion of Ma'aden's residential city in Wa'ad Al-Shamal, adding 96 new residential units. This brings the total number of housing units to 579, supporting industrial and mining sector employees and their families. To complement the region's infrastructure improvements, the Movenpick Wa'ad Al-Shamal Hotel, developed with an investment exceeding SR500 million, was officially opened. The five-star hotel is designed to cater to the growing accommodation demand from workers, investors, and visitors to the industrial city and Northern Borders region, further enhancing Wa'ad Al-Shamal's position as an integrated industrial and investment hub. As part of broader efforts to advance the mining sector, Alkhorayef, along with the deputy minister for mining affairs and other officials, visited several industrial and developmental projects in Wa'ad Al-Shamal and the Northern Borders region. The tour included a visit to the Scientific Excellence School in Arar, where the minister reviewed modern training laboratories and met with students and faculty. Established through a partnership between Ma'aden and the Ministry of Education with an investment of approximately SR180 million, the initiative seeks to promote scientific education and develop expertise in STEM fields. The minister also toured the Saudi Technical Institute for Mining in Arar, which has trained over 1,081 students, including 52 female graduates, in a range of specializations such as underground and surface mining, mining operations, and mechanical and electrical maintenance. Equipped with advanced mining simulation and training facilities, the institute plays a pivotal role in workforce localization and preparing Saudi talent for the mining industry. The tour also included a visit to the Hazm Al-Jalamid mine, one of the Kingdom's key phosphate mining sites, producing more than 11 million tonnes of phosphate ore annually. The Northern Borders region is home to extensive mineral resources valued at approximately SR4.669 trillion. It is a major source of phosphate, a critical element in global food security due to its role in agricultural fertilizer production. The region also contains high-quality deposits of coal, dolomite, limestone, and silica sand. It currently holds five phosphate ore reserve sites and 29 active mining licenses, including 15 for building materials and 14 for mineral extraction.
