Saudi Arabian Mining Co. (Ma’aden) plans to invest approximately SAR 8.5 billion ($2.26 billion) in 2025, focusing on expanding its gold, phosphate, and aluminium production capacities, Zawya reported, quoting a report from Almal newspaper.
Ma’aden’s CEO, Bob Wilt, emphasised that the majority of the 2025 capital expenditure will target growth projects, particularly in phosphate and aluminium, with increased investments in gold anticipated from 2026 onwards.
In February 2025, Ma’aden commenced construction on the Phosphate 3 project in Wa’ad Al Shamal Mining City, with an estimated investment of SAR 28 billion ($7.4 billion).
As of the third quarter of 2024, Saudi Arabia’s official gold reserves stood at approximately 323 tonnes, maintaining its position as the leading holder of gold reserves in the Arab world.
To support its expansion plans, Ma’aden raised $1.25 billion through its inaugural Islamic bond issuance in early 2025.
These strategic investments are part of Saudi Arabia’s broader efforts to capitalise on its estimated $2.5 trillion worth of untapped mineral resources, aiming to position the Kingdom as a global mining hub.
