Maaden Reports Strong Revenue Growth And Strategic Developments In Q2 2025

Saudi Arabian Mining Company (Maaden) has announced its financial results for the second quarter and first half of 2025. The company reported a revenue of SAR17.93 billion for the first half, driven by increased sales volumes and higher commodity prices. Earnings before interest, taxes, depreciation, and amortization (EBITDA) reached SAR7.25 billion, up from SAR5.91 billion in the same period in 2024.

Net profit for Maaden rose by 73% year over year to SAR3.47 billion. This increase was due to strong EBITDA, reduced finance costs, lower zakat and income tax expenses, and decreased severance costs. The company's performance was bolstered by higher sales volumes of phosphate and aluminum flat-rolled products.

During the second quarter of 2025, Maaden achieved record-high quarterly production of diammonium phosphate (DAP) in its phosphate segment. Additionally, the company received board approval for the Final Investment Decision (FID) to develop the Ar Rjum gold project in the Central Arabian Gold Region.

Maaden completed acquiring a 25.1% ownership interest from Alcoa in Maaden Aluminum Company (MAC) and Maaden Bauxite and Alumina Company (MBAC). This acquisition resulted in Maaden gaining full ownership and operational control of both assets.

Bob Wilt, CEO of Maaden, stated: "During the first half of 2025, we delivered Maaden’s second-highest first-half earnings, while sustaining strong momentum in operational excellence with record quarterly phosphate production, continued exploration successes, project advancement, and the formation of key partnerships."

He expressed confidence in achieving strong results in the year's second half by executing growth strategies, accelerating exploration efforts, and maintaining operational excellence. Wilt emphasized their commitment to creating long-term value for shareholders and driving profitable growth as a key pillar of Saudi Arabia's economy.

Company Overview

Maaden is recognized as the Middle East's largest multi-commodity mining and metals company. It ranks among the fastest-growing mining companies globally with revenues reaching SAR32.5 billion (US$8.7 billion) in 2024.

The company employs over 7,000 skilled workers across its operations at 17 mines and sites. Its products are exported to 55 countries worldwide. As a national champion in mining, Maaden leverages advanced technology and top talent to explore Saudi Arabia's vast mineral resources.

The company's efforts support developing mining as a crucial economic pillar within Saudi Arabia's economy.

With inputs from SPA