Maaden posts robust figures on all levels, says CEO

Saudi Arabian Mining Co. (Maaden) reported solid financials across the board for fiscal year 2017, driven by higher production rates, cost-cutting measures, as well as improved selling prices, CEO Khalid bin Saleh Al-Mudaifer said in a statement.

The positive results were backed by producing 330,000 ounces of gold, a 48 percent increase year-on-year (YoY), boosted by the Ad Duwayhi gold mine.

Maaden Aluminium produced 916,000 tons of aluminum, up 6 percent YoY in 2017, while copper production leapt 56 percent YoY.

“Maaden will capitalize on the Kingdom’s focus on mining, in line with Saudi Vision 2030,” Al-Mudaifer said.

The Saudi mining giant reported a consolidated net profit of SAR 714.8 million for fiscal year 2017, versus net losses of SAR 10.7 million in FY 2016.

Metals and Aluminum Segment Production
Period	Gold (‘000 ounces)		Cupper (‘000 tons)		Aluminum (‘000 tons)
Period	Quantity	Variation	Quantity	Variation	Quantity	Variation
2015	165	+9%	2.4	--	839	+26%
2016	225	+36%	24.8	+933%	871	+4%
2017	333	+48%	38.6	+56%	916	+5%

Phosphate Segment Production
Period	Ammonium Phosphate		Ammonia (Maaden Phosphate)		Ammonia (Waad Al Shamal)
Period	Quantity	Variation	Quantity	Variation	Quantity	Variation
2015	2,633	+10%	461	(30%)	--	--
2016	2,676	+2%	715	+55%	--	--
2017	2,808	+5%	591	(17%)	1,070	--

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