The Saudi Arabian Mining Company (Maaden) announced in a bourse statement that gold sales decreased to 394,000 ounces in 2019 as compared to 417,000 ounces in 2018.

 

In an earnings call with local and international investors and analysts to discuss the annual financial results on Feb. 3, Maaden stated that the sales of phosphate fertilizers amounted to 4.9 million tons, an increase of 57% compared to 3.12 million tons in 2018.

 

The following table shows the company’s product sales in 2018 and 2019:-

 

Sales summary 

Product

In k-tons (except as mentioned) 

2018 

2019 

Change 

Ammonium Phosphate fertilizer 

3,126 

4,907 

+57% 

Ammonia

1,351 

1,291 

(4%) 

Alumina 

311 

362 

+16% 

Primary Aluminum 

593 

562 

(5%) 

Flat Rolled Products 

20 

294 

-- 

Gold (‘000 ounces) 

417 

394 

(6%) 

Copper (MT) 

114

122 

+7% 

 

According to data compiled by Argaam, Maaden reported a net loss after zakat and tax of SAR 739.46 million in the fiscal year 2019, compared to a net profit of SAR 1.85 billion a year earlier due to decline in average product prices, except gold.

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