RIYADH: Saudi Arabian Mining Co. reported a 16 percent increase in second-quarter revenue to $2.9 billion, driven by its best-ever quarterly aluminum performance and stronger gold output.
The Riyadh-based miner said in a statement that earnings before interest, taxes, depreciation, and amortization increased 3 percent year on year to $1 billion, while net profit attributable to shareholders reached $600 million for the quarter ended June 30, 2026.
The results underscore the growing role of mining in Saudi Arabia’s Vision 2030 diversification drive. Maaden, the Kingdom’s flagship mining firm, is a cornerstone of its industrial transformation and ranks among the world’s top 10 companies in the sector by market value, reporting $10.3 billion in revenue in 2025.
Maaden CEO Bob Wilt said the company delivered a solid financial result despite headwinds in one of its core divisions: “Despite challenges relating to sulfur supply and logistics in phosphate, the aluminum business delivered its best ever financial performance with a very strong performance from our gold business.”
Aluminum hits a record
