Riyadh—Saudi Arabian Mining Co. (Ma’aden) has announced that it is developing its third project for the manufacture of phosphate fertilizers. The project is expected to be implemented in phases and eventually will add a further 3 million mt/y of production capacity. Costs are currently estimated approximately at 24 billion Saudi Riyals, and full capacity could be reached in 2024. This project is subject to the completion of feasibility studies and necessary consents. The company said further information will be released in due course. Ma’aden’s existing two plants each have a capacity of approximately 3 million mt/y. Neither Ma’aden or The Mosaic Co. responded to inquiries as to the ownership stakes in the proposed plant. Mosaic has a 25 percent stake in Ma’aden’s second plant, Ma’aden Wa’ad Shamal Phosphate Co. (GM Aug. 12, 2013).
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