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الاقتصادية
Saudi Maaden profits rise 13% on lower financing costs
Saudi Arabian Mining Company "Maaden" achieved a 13% increase in its net profits during the second quarter of this year, reaching 2.17 billion riyals. This growth was supported by a decrease in financing costs and an increase in share of profits from its investments, along with higher operational revenues. Although the cost of sales for the phosphate segment rose due to supply chain challenges and higher raw material prices, diversification of the business portfolio helped maintain overall profitability. The company plans to increase its workforce by 5,000 employees over the next two years to support its expansion projects. Through these efforts, it aims to develop the mining sector in line with Vision 2030, increasing its contribution to the gross domestic product to 240 billion riyals by 2030, with a focus on sustainability and resource management.
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