Maaden signs major agreements with US firms Alcoa, Mosaic

Arab News ^ | May 21, 2017 | Staff

[bobsunshine]

RIYADH: Saudi Arabian Mining Company Maaden has signed “landmark” memorandums of understanding (MoU) with the US-based companies Alcoa and Mosaic, according to a statement. The agreements, signed at the inaugural Saudi-US CEO Forum in Riyadh, will help tap the Saudi mining sector’s significant potential, it was announced. Maaden and Alcoa announced that they would assess the feasibility of an expansion of a smelting capacity in Saudi Arabia. They previously developed an aluminum production complex in Ras Al-Khair Industrial City. Since it was formed by the partners in 2009, the Maaden-Alcoa joint venture complex has made a contribution of approximately $4 billion to Saudi Arabia’s gross domestic product (GDP), the statement said. The joint venture supports 3,500 direct jobs and 12,000 indirect jobs. If the expansion were to proceed, primary aluminum capacity could be increased by 600,000 metric tons annually and result in over 3,000 high quality direct and indirect jobs. Maaden and Mosaic announced an MoU to further highlight and commemorate the partnership between the two mining and fertilizer businesses. The MoU contemplates several areas of potential collaboration in the phosphate business in Saudi Arabia. Mosaic, Maaden and their partner SABIC have already invested about $8 billion in developing the project.

[bobsunshine]

Since the MSM won't publish everything that is happening with President Trump's tour, I will. Period

[3D-JOY]

Interesting...wonder what effect it will have on the price of Silver?

[Diana in Wisconsin]

“Maaden and Mosaic announced an MoU to further highlight and commemorate the partnership between the two mining and fertilizer businesses.”

Well, at least this gives the EnviroWeenies a single target, LOL!

Liberal Heads Explode all over the world. And, I love it.

[Diana in Wisconsin]

It’s up 27-cents as of today. When it hits $18, sell some off. ;) Gold is rockin’ it again, too!

http://www.321gold.com/

[Diana in Wisconsin]

Oops! As of May 19th. I’m hoping for an up-tick after this past weekend.

[Parley Baer]

Making America Great Again. GO TRUMP GO

[DoughtyOne]

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