Maaden’s subsidiary resumes phosphate plant production after maintenance

16/02/2013 Tadawul

With reference to the companys announcement on 28/01/2013 corresponding to 16/03/1434H, Saudi Arabian Mining company announces that on 16/02/2013 its subsidiary Maaden Phosphate Company has started to resume gradually the operation of its DAP plant located in the Companys complex at Ras Al Khair city after maintenance completion. 
The Company has informed earlier that the maintenance work completed will limit the financial impact of the shut-down by enhancing the operational performance. Due to the changes of feedstock price, sales prices and sales quantities, it is early to identify the impact of this shutdown. 
As it was previously mentioned in our earlier announcement the financial impact will be shown in Q1, 2013 financial results. 
In addition, please note that the shutdown did not have impact on the companys ability to meet its obligations towards its customers. 
MPC is a joint venture project between the Saudi Arabian Mining Company (Maaden) and Saudi Basic Industries Corporation (SABIC), 70% owned by Maaden and 30% owned by SABIC. 

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