SAUDI ARABIAN MINING COMPANY (MAADEN) ANNOUNCES THE FIRST DIAMMONIUM PHOSPHATE (DAP) PRODUCTION OF ITS SUBSIDIARY (MAADEN WAAD AL SHAMAL PHOSPHATE COMPANY)
Further to the announcement on 28/09/1434H (corresponding to 05/08/2013G), the Saudi Arabian Mining Company (Maaden) announces the commencement of initial production at its subsidiary Maaden Waad Al Shamal Phosphate Company (MWSPC) on Saturday 14/10/1438H (corresponding to 08/07/2017G). During initial production, MWSPC will gradually ramp-up until it reaches the 3 million tonnes production capacity. The impact on earnings will be recognized following the declaration of commercial production.
Any additional information will be provided in due course.
Saudi Arabian Mining Company (Maaden), The Mosaic Company and Saudi Basic Industries Corporation (SABIC) own 60%, 25% and 15%, respectively, of the joint venture developing the Waad Al Shamal Phosphate project.