By Maged Al Shabib

Riyadh-Mubasher: The total sales of Saudi Arabian Mining Co. (Ma'aden) exceeded SAR 10.7 billion in 2014, of which phosphate dominated 51.7%, aluminum (41.7%) and gold (6.6%), according to the board's report.

The gold sales increased by 9% year-on-year to 151.5 thousand ounces at an average price of SAR 4717 ($1258). The production reached 153.9 thousand ounces during the year, and the average sale price was 8% lower compared to a year earlier, the report stated.

The phosphate sale jumped 31% y/y to 2.38 million tons, and the production rose 27% to 2.3 million tons. The average sale price reached SAR 1717 ($458), 1% down compared to a year earlier.

The aluminum sales soared 216% to 479.7 thousand tons at an average price of SAR 8610 ($2296). The production exceeded 668 thousand tones, with an increase of 251% compared to 2013.

Translated by Abdul Maguid Aboshahla