Base Metals and New Minerals
Overview
Since 1997, We have promoted mineral exploration in Saudi Arabia, positioning the Kingdom as a key player in global gold mining.
Maaden’s Base Metals and New Minerals (BMNM) division plays a pivotal role in diversifying the company’s portfolio, with gold as its foundation. BMNM operates six gold mines across Saudi Arabia’s Arabian Shield Region. We are also a joint venture partner with Barrick Gold Corporation. These mines are:
Growth Projects
We are currently developing the Ar-Rjum project, which will add 250,000 ounces annually.
We aim to exceed 500,000 ounces by 2025 and 700,000 by 2028, aligning with Saudi Vision to double production by 2030 and achieve a fourfold increase by 2040.
The Maaden Barrick Copper Company (MBCC), our exciting joint venture with operator Barrick, is the core of our emerging copper business. This joint venture continues to play a major role in the Company’s portfolio and financial results. In 2023, Jabal Sayed achieved its target of 130 million pounds of copper per annum. This copper is exported globally, contributing to industries like electronics and renewable energy.
Our operations span from the Red Sea to the central desert, and we continue to explore new international opportunities. Use our interactive map to discover how our operations are driving our growth and shaping the future of mining.
Base Metals and New Minerals Executive Summary
Gold was our first commodity, laying the foundation for our growth and diversification. As we expand, gold remains a key asset, driving our portfolio alongside copper, silver, and zinc production.
