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1211 on Saudi Stock Exchange

Maaden

Logo: Unknown author Unknown author, Public domain, via Wikimedia Commons3

Saudi mining company

Maʽaden (stylized MAADEN; Arabic: معادن), also known as the Saudi Arabian Mining Co., is a Saudi state-owned mining company headquartered in Riyadh. It was formed as a Saudi joint stock company on 23 March 1997 for the purpose of facilitating the development of Saudi Arabia's mineral resources. The Saudi government still owns 50% of its shares while the remaining 50% are listed in Tadawul (Stock Market).2 It employed 6,149 people.1 Its shares trade on Saudi Stock Exchange under the symbol 1211.1 Wikipedia text CC BY-SA 4.0

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Last updated Oct 21, 2026.

Overview

Mar 23, 1997Founded1

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  • Ticker1211 on Saudi Stock Exchange1
  • Industrymining of metal ores1
  • HeadquartersRiyadh1
  • Websitewww.maaden.com.sa
  • Legal formjoint-stock company, public company1

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Maʽaden (stylized MAADEN; Arabic: معادن), also known as the Saudi Arabian Mining Co., is a Saudi state-owned mining company headquartered in Riyadh. It was formed as a Saudi joint stock company on 23 March 1997 for the purpose of facilitating the development of Saudi Arabia's mineral resources. The Saudi government still owns 50% of its shares while the remaining 50% are listed in Tadawul (Stock Market). It is the largest mining company in Saudi Arabia.2

Products and brands

  • aluminium
  • copper
  • gold
  • kaolin
  • phosforous fertilizer

Listed on Wikidata.1

Upon incorporation Maaden received 50% of the stock of the Saudi Mining Company for Precious Metals (renamed MGBM: Ma'aden Gold and Base Metals Company) from the government-owned Petromin Corporation. In 1999 the remaining 50% was acquired from the Swedish Boliden Mineral S.P. for SAR 26 million.

PIF owned all 400 million shares (par value SAR 10, issued at par) issued at incorporation. On 4 March 2007, capital was increased to 925 million shares (525 million issued at SAR 20) with PIF holding 462.5 million, GOSI (social insurance fund) and PPA (public pension agency) each holding 23.125 million and 416.25 offered in the 5 July 2008 IPO on the Tadawul. In November 2014 243 million additional shares were offered to existing shareholders at SAR 23 per share, for which Maaden raised SAR 5.674 billion. Of the proceeds 90% were allocated to MWAS (Ma'aden Wa'ad Al Shamal Phosphate Company) and 10% to MBAC and included the settlement of SAR 1,772 million of outstanding Murabaha short term loans.

In June 2019, Maaden obtained Alcoa's 25.1% stake in MRC without any direct compensation. Alcoa was released from future MRC lenders obligations. Alcoa's press release was also cryptic about the reasoning behind this apparent write-off.

In June 2018 PIF took over the GOSI and PPA shares and then owned 65.44%, the remainder being free float.

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On 4 November 2019, 62 million shares were issued at SAR 48.08 (then current market value) to PIF in order to convert debt due to PIF to equity to improve the company's credit position.

On 30 May 2022, the common stock was split 2-for-1 (into 2,461 million shares). On 7 June 2023 the stock was split 3-for-2 (into 3,692 million shares).

Effective 24 December 2024, Maaden bought out Mosaic's 25% stake in MWSPC in exchange for 111 million newly issued Maaden common shares. Effective 24 June 2025 Maaden bought out Alcoa's 25.1% stake in MBAC and MAC, in exchange for SAR 562.5 million in cash and 86 million newly issued Maaden common shares (then valued SAR 3,562.5 million). The new total stock outstanding was then 3,889 million common shares. As a result of these capital increases, PIF's stake in the company was diluted from 67.18% to 65.22% to 63.78%.

From Wikipedia’s article on Maaden (company), shared under CC BY-SA 4.0.4

Timeline

  1. Jul 28, 2008Went public Listed on Saudi Stock Exchange1
  2. Mar 23, 1997Founded Founded1

Sources

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