Saudi Arabia Mining Company Ma’aden to Expand Operations

The Saudi Arabian Mining Company, Ma’aden announced the launch of its Local Content program, Tharwah (Wealth), which focuses on maximizing the contribution of the mining industry to the Saudi Arabian economy in line with the country’s Vision 2030.

By 2040, Ma’aden estimates spending SAR 55 billion (about US$14.6 billion) on goods and services to support operations, yielding an additional SAR 33 billion ($8.8 billion) in local content contribution. This will add a total of SAR 88 billion or about $23.5 billion to Saudi Arabia’s gross domestic product (GDP), while creating up to 47,000 jobs for Saudi nationals within the same timeframe.

Under the program, Ma’aden can work with investors on:

•    Demand Information: Details on Ma’aden’s expenditure and future requirements.
•    Technical Support: Access to skilled Ma’aden resources to support on feasibility studies
•    Letter of Support: Introductions to Ma’aden partners and other stakeholders
•    Memorandum of Understanding: Joint commitment to investigate and develop Local Content opportunities
•    Funding: Introductions to funding partners offering preferential terms
•    Fast Track Registration: Priority track to complete Ma’aden supplier registration
•    Bidder List Inclusion: Access to Ma’aden tenders and procurement
•    Framework Agreement: Supply of goods and services to Ma’aden through localized supply capability

Growing commercial opportunities exist for U.S. mining companies in Saudi Arabia within key subsectors and commodities value chain such as aluminum, phosphate, fertilizers and industrial materials. If you are interested to learn more about the sector, please reach out to Commercial Specialist Khalid Darazi at: Khalid.Darazi@trade.gov.

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