Maaden launches biggest mining IPO

State-owned Saudi Arabian Mining Company (Maaden) yesterday launched an initial public offering to raise 9.25 billion riyals ($2.47bn) in the Middle East’s biggest mining IPO, valuing the firm at $4.9bn. Maaden plans to sell 462.5 million of stock – equivalent to 50 per cent of its share capital – at 20 riyals each with subscriptions closing on July 14, according to the bourse regulator,... 

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Saudi Canadian commences Az Zabirah works

After signing a five-year deal with the Saudi Arabian Mining company (Maaden), the Saudi Canadian Mining Services mobilized major capital equipment worth $14 million to Az Zabirah North Zone Kaolin & Bauxite Project for the execution the contract, Arab News reported. The Chief Executive Officer at the Saudi Canadian company said that it had already completed the required reverse circulation drilling... 

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