Ma'aden targets 22% rise in aluminium price

26 September 2010

Company is building an aluminium smelter at Ras al-Zour

Saudi Arabian Mining Company (Maaden) has said it is targeting a 22 per cent jump in the price of aluminium as demand recovers, Bloomberg has reported. The state-controlled metals producer, which operates in the gold, phosphate and other mining industries, is building an aluminum smelter with US-based Alcoa. as part of a SR40.5bn ($10.8bn) industrial complex in the kingdom. The company plans to be the lowest-cost producer of the metal, which will “give us an edge to have a good place in the market,” Abdullah Abdulgader, executive director for project management and engineering said.

You might also like...

A MEED Subscription...

Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.

Get Notifications