MA'ADEN Gold Straegic Business Unit

About MA'ADEN Gold Straegic Business Unit

Ma'aden was established as a Saudi Arabian joint stock company in March 1997 under Royal Decree Number M/17. Its purpose is to facilitate the development of Saudi Arabia’s non-petroleum mineral resources and to diversify the Kingdom’s economy away from the petroleum and petrochemical sectors. Ma’aden engages in the development, advancement and improvement of all aspects of the mineral industry, mineral products and by-products and related industries in Saudi Arabia. It encourages private sector participation in the development and production of all types of minerals, either independently or in joint ventures with foreign companies. Saudi Arabia’s 8th Development Plan, covering the period 2005 to 2010, aims at providing job opportunities for citizens through continual economic growth, new investments, education, and development of capabilities and skills of the national workforce. Ma’aden’s objectives fully conform with and serve the national economic strategic goals. Ma’aden is developing momentum as a robust participant in the global mining and metallurgical industries. This overview details the achievements to date and provides insights into the company’s philosophy for future growth. It is an exciting time. The company has the financial capital to meet its objectives, and is developing the human capital – its employees – for the job ahead. Strong relations are also being forged with its customers, with the companies supply Ma’aden with goods and services, with its counterparts in the international minerals sector, and with other groups that have links to the company. Achieving the proper balance between commercial profitability, corporate responsibilities for the protection of the environment, sound safety and employment practices and national development policies is a demanding task. Fortunately, Ma’aden has the team in place to do this, and anticipates the future with confidence.