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AMAK notified of Saudi Aramco’s fuel price increase
04/01/2024
Argaam
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Logo of Al Masane Al Kobra Mining Co. (AMAK)
Al Masane Al Kobra Mining Co. (AMAK) announced receiving an official notice from Saudi Arabian Oil Co. (Saudi Aramco) as regards an increase in fuel prices as of Jan. 1, 2024, according to a statement to Tadawul.
The price hike will increase the cost of production while the relevant financial impact – which will likely appear as of Q1 2024 - is being determined and will be disclosed once finalized.
The company said it will try to eliminate this impact on profitability.
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