Maaden Reports Strong Results for Q4 2024
New Aluminum Recycling Plant in Development
Maaden, Saudi Arabia's leading mining company, has announced strong financial results for the fourth quarter of 2024.
The company's net income jumped by 65% compared to the same period in 2023, driven by increased sales and improved operational efficiency. Maaden's long-term borrowing and net debt also declined by 12% during the quarter.
One of the key highlights of the quarter was the announcement of Maaden's new aluminum recycling plant at Ras Al-Khair. The plant is currently in its pre-feasibility stage and is expected to be one of the world's most efficient aluminum recycling facilities once completed.
Maaden is also making significant progress on its Phosphate 3 project, which is expected to further strengthen the company's position as a global leader in phosphate production. The project is on track and is expected to be completed on schedule.
In 2009, Maaden established a joint venture with Alcoa, the world's third-largest aluminum producer, to build the world's most efficient aluminum smelter. The smelter has been operational since 2014 and has significantly contributed to Maaden's growth and success.
Maaden's strong financial results and commitment to sustainability position the company well for continued growth and success in the future. The company's new aluminum recycling plant and Phosphate 3 project are key milestones in its journey to becoming a global leader in the mining industry.
Komentar