Saudi news

Phosphate 3 project will increase production by 50%

The CEO of the Saudi Arabian Mining Company “Ma’aden”, Robert Welt, said that the signing of the engineering services contract for the expansion of the phosphate project 3 will result in an increase in phosphate production by 50%, as he signed the contract with Worley Company, which will carry out the engineering design work for the project.

In an interview with Al-Arabiya, today, Thursday, the CEO of Ma’aden added that, in addition to that, the intensive efforts made by Saudi Arabia in the field of exploration to explore critical minerals.

He pointed to the signing of two joint ventures with leading international companies in the field of exploration, exploration and technology, and Ma’aden is looking forward with these companies to expand exploration areas by 4 times.

He continued, “Ma’aden also signed an acquisition agreement and a joint venture with the American Ivanhoe Electric Company, and the joint venture between Ma’aden and Ivanhoe will provide the possibility of using their Typhoon technology.”

He explained that Ma’aden signed an agreement with the Public Investment Fund to establish a company to invest in mining assets internationally. The company will focus on investing in iron ore, copper, nickel and lithium.

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