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Maaden and Aramco joint project details
The Saudi Arabian Mining Company (Ma’aden) announced the formation of a joint venture with Saudi Aramco to develop and exploit mineral resources in the Arabian Shield region, with an initial capital of 197.5 million riyals. Ma’aden owns 51%, while Aramco holds 49%. The project aims to strengthen Saudi Arabia's mining sector, with the potential to provide additional funding of up to 1.807 billion riyals to support exploration and development activities. The Board of Directors attended the general assembly meeting, during which the disclosure of indirect interests by two board members was made to ensure transparency and accountability. This initiative comes amidst high expectations for boosting the national industrial sector.
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