trending Market Intelligence /marketintelligence/en/news-insights/trending/5ytvSNvbpHiEmS63GsbjHg2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Higher costs drive Saudi Arabian Mining's Q3'19 results into the red

Greenhouse gas and gold mines Nearly 1 ton of CO2 emitted per ounce of gold produced in 2019

Essential Metals & Mining Insights - September 2020

Essential Metals & Mining Insights - August 2020

State of the Market: Mining Q2-2020

Higher costs drive Saudi Arabian Mining's Q3'19 results into the red

Saudi Arabian Mining Co., or Ma'aden, swung to a loss attributable to shareholders of 92 million Saudi riyals in the third quarter, from a year-ago profit of 415 million riyals.

Sales jumped to 4.30 billion riyals from 3.40 billion riyals, but the cost of sales soared to 3.66 billion riyals from 2.14 billion riyals, leading gross profit down to 639.2 million riyals, from 1.26 billion riyals a year ago. Gold sales rose to 105,196 ounces, from 98,007 ounces a year ago.

The company also sells phosphate fertilizer, ammonia and industrial minerals, alumina and aluminum products, and copper, zinc and silver as byproducts of its gold production.

Operating profit tumbled to 269.4 million riyals, from 973.3 million riyals in the third quarter of 2018, due to higher operating expenses.

The company recorded a loss of 23 million riyals in the quarter from its share in joint ventures, compared to a year-ago profit of 66.5 million riyals, while finance costs climbed to 565.9 million riyals from 491.5 million riyals.

In the first nine months of 2019, Ma'aden swung to an attributable loss of 462.9 million riyals, from a year-ago profit of 1.57 billion riyals.

Sales jumped to 12.84 billion riyals from 10.35 billion riyals year over year, while the cost of sales soared to 11.19 billion riyals from 6.51 billion riyals.

Total depreciation and amortization charges jumped to 3.43 billion riyals, from 2.30 billion riyals a year earlier. The company's phosphate business accounted for 1.78 billion riyals of the total depreciation charges, compared to 895.3 million riyals a year ago.

As of Oct. 24, US$1 was equivalent to 3.75 Saudi riyals.