Saudi Arabian Mining Co. (Maaden) headquarters
Manara Minerals Investment Co. (Manara), a joint venture (JV) between Saudi Arabian Mining Co. (Maaden) and the Public Investment Fund (PIF), closed the acquisition of a 10% stake in Vale Base Metals Ltd. on April 30, Maaden said in a statement to Tadawul.
In July 2023, Manara sealed a binding agreement with Brazil-based miner Vale to buy a 10% stake in the base metal unit, Argaam earlier reported.
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In January 2023, Maaden signed a JV agreement with the PIF to establish a new company that will invest in mining assets globally to secure strategic minerals.
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