Maaden mulls to boost phosphate production by 50% to 9 mln tpa: CEO

Mosaed Al Ohali, CEO of Maaden

Saudi Arabian Mining Co. (Maaden) is studying a new project to boost its phosphate production capacity by 50% from current 6 million tons to 9 million tons per annum (tpa), CEO Mosaed Al Ohali told Bloomberg Asharq TV.

The mining company is also planning a large increase in gold production from current 400,000 ounces to 1 million ounces annually, with the related copper production.

Maaden is looking forward to maintaining an annual growth rate of over 8%, including the phosphate industry, Al Ohali said, adding that the company has become a giant phosphate producer, as it ranks among the world’s top three players in the sector. Maaden ranks also among the biggest 15 mining firms worldwide.

Commenting on the new mining investment law, Al Ohali explained that the new law aims to support investments in the vital and strategic mining sectors across the Kingdom, being the third pillar of economy along with energy and petrochemicals.