JEDDAH: The Saudi Arabian Mining Company (Ma'aden) said Saturday that Ma'aden Phosphate Company (MPC) started initial production from the first production lines of sulphuric acid and phosphoric acid for captive use and diammonium phosphate fertilizer (DAP), the final product, at its production complex in Ras Az Zawr. The production rate will be increased as other lines commence operation. MPC, a $5.5 billion joint venture between Ma'aden (70 percent) and SABIC (30 percent), remains on course to be completed on budget. When at full production MPC will produce approximately 3 million tons per year of DAP, which according to the company's estimates represents more than 10 percent of current global demand. SABIC will market 77 percent of production with the remainder marketed by Ma'aden. "This is the first of Ma'aden's mega projects to become operational and when in full commercial production will considerably enhance Ma'aden's revenue profile." commented Engr. Khalid Al Mudaifer, President and CEO of Ma'aden. "The successful development of MPC proves how such integrated minerals based projects can create value for shareholders, sustainable employment opportunities and regional development in the Kingdom." He added "This complex operation is the largest fully integrated phosphate fertilizer project in the word and will place the Kingdom among the world leaders of the phosphate industry." He added that "in addition to building this world scale operation in full compliance with the highest health, safety and environmental standards, an outstanding organization has been built with best in class processes and systems supported by state of the art computerized management systems. Of MPC's 1200 employees more than 60 percent in operations and 70 percent in management are Saudi. More than 350 Saudi high school leavers and fresh graduates have been trained and developed to operate this complex. The production of the Kingdom's first diammonium phosphate fertilizer is the realization of years of dedication and hard work by the all the teams involved." MPC includes a phosphate mine and beneficiation plant at Al Jalamid in the north of Saudi Arabia and a processing complex at Ras Az Zawr on the Kingdom's East coast consisting of four plants producing sulfuric acid, ammonia, phosphoric acid and, DAP respectively. The two sites are linked by a new 1,500 kilometer railroad and supported by extensive infrastructure including a new port at Ras Az Zawr. Ma'aden has five operating gold mines in Saudi Arabia, two further industrial minerals operations and is constructing a $10.8 billion integrated aluminum joint venture with Alcoa. The company has over 11 million ounces of gold resources in its license areas and is carrying out extensive exploration in the Kingdom to grow its existing projects and expand its minerals portfolio.
