Maaden allocates $110B for investment over next decade

01:10 PM (Mecca time) Argaam
Robert Wilt, CEO of Saudi Arabian Mining Co. (Maaden)

Robert Wilt, CEO of Saudi Arabian Mining Co. (Maaden)

Saudi Arabian Mining Co. (Maaden) earmarked $110 billion for investment as part of a capital expenditure (capex) program over the next decade, said CEO Robert Wilt.

 

Speaking during a session at the Future Minerals Forum, Wilt said these investments will help triple Maaden’s phosphate and gold business and double its aluminum operations over the next five years.

 

He noted that developing this infrastructure would require substantial government support, including the construction of pipelines, railways, and ports, adding that all government entities are aligned on Saudi Arabia’s critical minerals strategy and the company’s strategy.

 

He added that the company plans to sign partnerships to attract project developers and engineers from leading global companies in the sector.

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