Saudi Arabian Mining Company (Maaden) on Sunday said it has commenced commercial production at its diammonium phosphate plant from today (Dec.2).
The Waad Al Shamal Phosphate Company will gradually ramp-up its production until it reaches three million tons in annual capacity, the mining major said in a statement to Tadawul.
The financial impact on earnings will be recognized in Q4 2018 results.
Maaden, The Mosaic Company and Saudi Basic Industries Corporation (SABIC) own 60 percent, 25 percent and 15 percent, respectively, of the Waad Al Shamal phosphate project.
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