United Mining CEO: Stronger H2 demand to support price hikes

Hamad Alsourayia, CEO of United Mining Industries Co.

Hamad Alsourayia, CEO of Nomu-listed United Mining Industries Co., said the company will soon launch a new production line for gypsum boards, which will boost capacity to 60 million square meters.

He expects this expansion to lower overall production costs, positively impacting revenues and earnings in the near future.

Alsourayia told Al Arabiya that higher costs and weaker demand weighed on the company’s output by 10% in H1 2025. However, he said the notable increase in demand during the second half of the year will be accompanied by higher prices, which will offset rising energy costs.

The CEO added that the company is currently expanding in Iraq and Syria, while also studying entry into African and Indian markets, supported by the increased production capacity that will enhance competitiveness.

Alsourayia also said the company’s plan to move to the main market is underway, following the appointment of an advisor, with a submission to Tadawul expected soon.

According to Argaam data, the company’s H1 2025 profit fell to SAR 10 million, compared to SAR 11.9 million in the same period of 2024.