Ma’aden wants to become the third pillar of Saudi Arabia’s economy: CEO 

Ma’aden wants to become the third pillar of Saudi Arabia’s economy: CEO 

RIYADH: Saudi Arabian Mining Co., known as Ma’aden wants to be the third pillar of the Kingdom’s economy, as efforts to diversify the nation’s revenue sources progress steadily in line with the visions outlined in Vision 2030, a top official said. Speaking during a session of the Saudi Green Initiative, happening on the sidelines of the UN Climate Change Summit in Sharm El-Sheikh, Egypt, company CEO Robert Wilt said that Ma’aden is successfully pursuing its journey aimed at turning the mining sector a strong contributor to the Kingdom’s economy. “Ma’aden’s market cap is now probably $50 billion and it is still counting,” said Wilt. Reiterating the words of Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef, Wilt noted that Ma’aden will help find mineral resources in the Kingdom worth $1.3 trillion. The CEO further noted that the company commissioned a gold mine and an ammonia plant in the past 10 months. According to Wilt, obtaining a mining license in Saudi Arabia is free from hassled regulatory pressures, and the Kingdom offers a positive business environment for companies operating in the sector. Talking about environmental sustainability, Wilt noted that Ma’aden is strictly following environmental, social, and governance principles, despite operating