RIYADH – Saudi Arabian Mining Co. (Ma'aden) made a net profit of SR311 million ($82.93 million) in the third quarter of this year compared with SR27 million riyals in the prior-year period, it said in a bourse statement Wednesday. Net income for the second-quarter was SR128 million. Ma'aden said the increase in third-quarter net income was “attributed to the beginning of commercial production of ammonia and DAP” as well as “higher realised price and quantity sold of DAP, ammonia and gold”. DAP is di-ammonium phosphate, which is used to make industrial fertilizer. The partly state-owned company is in a phase of rapid production growth, with plans to build a new $1.5 billion aluminum refinery, add a new line to an existing aluminum smelter, and invest $5.6 billion in a phosphate project. – Reuters