AMAK gets fuel price adjustment notice from Aramco

02/01/2025 Argaam
Logo ofAlmasane Alkobra Mining Co. (AMAK)

Logo of Almasane Alkobra Mining Co. (AMAK) 

Almasane Alkobra Mining Co. (AMAK) received a notice from Saudi Arabian Oil Co. (Saudi Aramco) on the adjustments of prices of fuel products used in cement production, effective as of Jan 1.

 

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The company said the pricing adjustment would lead to a 2.5% rise in production costs, which will appear in the financial results starting from the first quarter of 2025, according to a statement to Tadawul.

 

The company will work to mitigate the relevant impact while continuing to implement its plans to reduce costs and improve production and operational efficiency. AMAK will also work with government entities to explore ways to diversify energy sources.

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