Ma'aden Q4 Newsletter

Ma’aden Quarterly
Newsletter Q4



5

A Message from our Human Capital SVP

Welcome to the Q4 edition of the Ma’aden Newsletter. Throughout 2021, the Human Capital
department has included many key activities and initiatives in its strategy to support the
achievement of both the Ma’aden’s 2040 Strategy and the Saudi Vision 2030.
An overview of some of the initiatives includes an enhanced Employee Value Proposition (EVP)
with revised HR policies, the introduction of Dual Career Paths, new job titles and grade bands,
the launch of the Employee Engagement Survey (ESS), improved Performance Management
processes, and a re-energized Ma’aden Academy, among many others.
In this edition of the newsletter, we explore the launch of transnational facilities, our outstanding
Q3 financial results as well as our participation in international events, among many other
achievements from the past quarter.
We look forward to a prosperous new year filled with achievements and accomplishments.

Ibrahim Al-Amir,
Senior Vice President,
Human Capital

6 Ma’aden Quarterly Newsletter Q4

Introducing the Ma’aden 2040 Strategy

Ma’aden has been growing at nine times the industry rate and ranks
among the top 15 mining companies in the world in terms of market
capitalization. At this stage of our growth, we are proud to introduce
the Ma’aden 2040 Strategy, which aims to harness our full potential
and propel us further towards our goal of becoming a sustainable global
mining champion.

7

Ma’aden aims to deliver on its 2040 strategic goals through four strategic pillars:

1) Focus on value: 2) Leverage KSA resources:

We will focus on upstream business We will increase production capacities
by diversifying our product portfolio in current value chains and continue our
towards high value products and investment in exploration and mining of
enhance our customer intimacy and Saudi Arabia’s rich mineral endowment,
value chain positioning. This implies which is estimated to be worth $1.3
focusing on our core mining component, trillion, to grow our business and add
remain in Gold and Base Metals, new minerals to our portfolio.
Aluminium and Fertilizers, while
limiting our downstream presence.

3) ESG leadership:

We will become a local ESG role model in the Kingdom and contribute to the
nation’s ESG objectives through aligning with the Saudi Green Initiative by reducing
our carbon emissions and using renewable energy with the goal of reducing our
groundwater usage by 65%, landfilled waste by 80% and CO2 emissions by 60%. We
also aim to increase the proportion of women and Saudi Nationals in our workforce
and work with suppliers that meet our ESG requirements.

4) Drive productivity
We will increase our productivity drive by adopting new technology, innovating in
our processes, and investing in our people to maximise value.

Enviroment, Health, Safety & Sustainability (EHSS)

Ma’aden’s EHSS department had an eventful fourth quarter, having participated in key national
and international conferences and hosting several events and activities at Ma’aden HQ and
affiliate facilities including:

A high-level visit to affiliates on an MSHEM training and audit
inspection tour programs

Activities associated with COVID-١٩ World First Aid Day, breast
vaccinations cancer awareness, health and
safety preparations for winter,
and much more.

8 Ma’aden Quarterly Newsletter Q4

MTP

The Ma’aden Transformation Program

With the aim of transforming Ma’aden and truly elevating its people and culture,
the Ma’aden Transformation Program (MTP) has had an eventful Q4, filled with a
variety of accomplishments.

MTP celebrates the launch
of three improvements over
the last quarter. Firstly, the
go-live of the MTP MHCM on
December 12th, with new
modules & enhancements
in Oracle Fusion, enabling
us to transform the way
we handle human capital
management.

December 19th marked the go-live of 2021’s penultimate day was
the Finance System and Supply Chain & the launch date of the Ma’aden
Procurement System with new modules Financial Consolidation System
in Oracle Fusion, allowing for greater with new modules in Oracle Fusion,
flexibility and improved accuracy in enabling greater accuracy and
supply chain and finance management. efficiency for financial consolidation..

Moreover, MTP’s achievements also include: the sign off of Blueprint Document
(BPDD) supply chain & procurement – inbound logistics, commencement of
the Professional Training sessions and User Acceptance Test (UAT) sessions
on MHCM, launch of the MTP intranet page, the MTP townhall, among others

9

MPC

The Ras Al Khair QA/QC team has successfully completed a
proficiency program among all Ma’aden’s affiliates, with the
goal of enhancing analytical skills and accuracy in the delivery
of lab results.

In view of the risk control and mitigation program, the PAP team identified 16
hazards and developed 38 action points, of which 26 are closed and eight are

MPC - JALAMID

With full support from the EHSS team and
in accordance with all safety standards and
procedures, the MPC team has successfully
completed Jalamid TAM during the month
of October, boasting more than 48,000 safe
manhours with a 190 manpower increase
to the MPC team.

MPC – RAK

Among its many achievements, Ma’aden
Phosphate Company organized a blood
donation initiative to support cancer
patients at the company’s clinics (Ras
Al Khair & Jalamid) from the 14th-16th
December.

10 Ma’aden Quarterly Newsletter Q4

RAK – MAC

Ma’aden Aluminum’s technical and central maintenance teams have successfully
completed the in-house repair of Anode Stems and Rods at the central workshops
with close support and sponsorship by the smelter. This achievement meets
Ma’aden Aluminum’s critical maintenance requirements and will contribute to
annual savings of SAR 8 million.

IMC

In line with Ma’aden’s commitment to
its EHSS goals, the IMC department
initiated an audit campaign for the new
EHSS MSHEM system, making this the
first site to be audited by a team from a
different affiliate.
Additionally, IMC has succeeded in
acquiring the environmental operating
permit for Madinah Magnesite plant
from NCEC for a 3-year period, marking
the 5th consecutive year the Madinah
plant has been successfully operating
without any environmental violations.

11

Human Capital

Throughout 2021, the
Human Capital department
has included many key
activities and initiatives
in its strategy to support
the fulfillment of both the
Ma’aden 2040 Strategy
and the Saudi Vision 2030.

An overview of some of the
initiatives includes; an enhanced
Employee Value Proposition
(EVP) with revised HR policies,
the introduction of Dual Career
Paths, new job titles and
grade bands, the launch of the
Employee Engagement Survey
(ESS), improved Performance
Management processes and a
re-energised Ma’aden Academy,
among many others.

12 Ma’aden Quarterly Newsletter Q4

Cybersecurity Certification Renewal

Ma’aden was granted
the ISO Certification for
Cybersecurity for the
second consecutive
year, supporting our
drive to optimize our
cybersecurity systems
and become more
efficient and proactive
against cybersecurity
threats.
This achievement is a testament to our ongoing commitment to fortify our
cybersecurity capabilities and ensure that Ma’aden is compliant with the highest
international cybersecurity standards.

Ma’aden Aluminium ISO Achievement

Ma’aden Aluminium (MA)
has recently been awarded
with the ISO 22301: 2019
Certification of Business
Continuity Management
System (BCMS). The
achievement was secured
by the strong commitment
of the Ma’aden Aluminium
team in ensuring that all
required and supporting
systems are in place.

The certification reaffirms the commitment of MA management and its employees
to achieve excellence in managing the organization’s continuity at any disruption
to critical processes.



14 Ma’aden Quarterly Newsletter Q4 Saud Al-Utaibe
VP Mine & Refinery
Promotions MBAC to President of
MPC
Abdullah Al-Ajmi
President of MPC to Mansour Al-Qahtani
Senior Advisor to the Senior Director, Operations
CEO MPC to VP, Operations
MPC
Dhafer Abu Hetlah
VP Technical MPC to Ahmed Al-Harbi
Advisor to the SVP, Manager, Risk
Phosphate & IM SBU Management &
Compliance to Director, JAL
Abdulrhman Al Rashidi Operations
Director Ammonia III
Project to VP Mine & Naser Al-Abeedi
Refinery, MBAC Director, Architecture
Analytics DS & SBU IT
Abdullah Al-Khathami Management (Acting)
Manager, Phosphate Acid confirmed in this role
Plant to Director, Phosphate
Operations MPC

15

Fahad Al-Enazi Fahad Al-Marri
Head, Budgeting, Director, Production &
Planning & Performance Planning to Director,
to Director, Budgeting, Operations GAS(Operation
Planning & Performance - Smelter)

Majedr Al-Qahtani Waleed Eid
Director, Operations GAS Manager (Power
to Director, Projects, Management) to Director
Design & Engineering (Power & Interfaces -
Smelter)
Dhafer Al Shahrani
Director , Accounts Mohammed Alsufyani
Receivable – Corporate Manager (Mining
to Director, Accounts Operational Readiness) to
Receivable – Shared Acting Director (Operations
Services Mining - East)
Engineering)
Mamduh Al-Ruwaili
Abdulmonem Al-Ghamdi Financial Controller
Financial Controller to Director, Accounts
to Director, General Payable(Operations - East)
Ledger & Financial
StatementsServices
Mining Engineering)

16 Ma’aden Quarterly Newsletter Q4

Mohammed Al-Nabhani Motlaq Al-Harbi
Director, Supply Chain – Director, Contract Services
Procurement to Director, to Director, Operational
Strategic Sourcing Procurement & Inbound
Logistics
Mohammed Al-Shehri
Director, Material Naser Al-Abeedi
Management – Director, Architecture
Procurement to Director, Analysis DS & SBU IT
Materials Management Management to Director,
Architecture & Data
Faisal Al-Zayat Science
Manager, IT Project –
PMO to Director, Service Ahmed Al-Harbi
Management Manager, Risk
Management &
Waleed Al Harbi Compliance to Director, JAL
Director, Supply Chain Operations
Services (Acting) – Marketing
and Sales to Director, Supply Ignacio Garcia
Chain Services – Marketing Director Strategy, Planning
and Sales & Business Development
to Director Central
Engineering and Projects

17

New Joiners

We’re delighted to welcome the following new joiners to the Ma’aden family:

Ali Alqahtani Cesar Magalhaes

MGBM Manager, Water MGBM Director,
Pipeline Operations Operational Excellence

Rakan Al-Feryh Hilton Goldfinch
MGBM Director, MGBM Director, Mining
Accounting Engineering

Omar Halawani Turki Al-Rasheed
Manager, Corporate Affairs MDirector, PMO &
Planning Engineering

Saleh Al-Anazi Director, Anwar Alanazi
Talent Management Manager, Service
Excellence



19

Q3 Financial Results

Ma’aden has returned to profit, posting returns of SR3.1 billion
($826 million) in the first nine months of the year. This is compared
to a net loss of SR780 million in the same period in 2020, when
the COVID-19 pandemic hit pushed our industry to the wall.

The strong recovery is due to higher average sales prices of all our products except
gold, as well as a higher share in net profit from our joint ventures.
2021 has been a successful year for Ma’aden and our strong financial performance
has been recognized by our shareholders and investors.

20 Ma’aden Quarterly Newsletter Q4

Malawi Phosphate Terminal Launch

Headed by the Senior Vice President of the
phosphate business unit, Eng. Hassan Al-Ali,
a new milestone has been achieved for
Saudi Arabian Mining Company “Ma’aden”
and its African subsidiary Meridian Group
in Malawi through the opening of a
world-class fertilizer terminal in Liwonde.
The Liwonde Terminal is strategically
located on the rail line connecting the
Republic of Malawi to the deep-sea port of
Nacala in the Republic of Zambia, allowing
for high access to Ma’aden’s fertilizer
products across central and southern Africa.

> to read more, click here

21

First All-Women Visit to Al Amar Mine

For the first time, Ma’aden has taken an all-women team to the Al
Amargoldmineforasitevisit.Thegroupconsistedof18womenfrom
Ma’aden HQ and the Ministry of Industry and Mineral Resources.

The visit lasted two days and showcased the mechanisms and processes in place
at the mine, giving the group a first-hand view into the ins and outs of the mine’s
operations.
As part of the visit, the group was briefed on various safety and operational
procedures and taken to an underground factory where they witnessed the
production of a gold doré bar.

22 Ma’aden Quarterly Newsletter Q4

Student Visit

Mahd Althabah Student Visit

As part of Ma’aden’s commitment to
societal development and enriching
our community, a visit was organized
for students of the King Abdulaziz
University to the Mahd Althahab
facility. The students were given a
tour of the mine and taught about
the safety procedures as well as the
mining process and the tools used
to extract and excavate minerals.

23

Ma’aden Signs Two ESG MoUs

As part of our commitment
to social responsibility, the
Ma’aden Phosphate Company
signed a memorandum of
understanding with the
Secretariat of the Northern
Border Region and the
branch of the Ministry of
Human Resources and Social
Development and the Chamber
of Commerce and Industry in
the Northern Border Region.
The Ma’aden Waad Al-Shamal Phosphate Company has also signed a memorandum
of understanding with the National Center for the Development of Vegetation
Cover and Combating Desertification in the Northern Borders region.

Ma’aden continues to support social development within the framework of its
social responsibility by launching and spearheading initiatives that have a positive
impact on the communities in which it operates, as well as ensuring that its projects
create valuable investment opportunities for the Saudi economy.



25

Made in Saudi

Ma’aden has successfully developed and acquired registration approval for 14
products as part of the “Made in Saudi” program. A great achievement that contributes
to Ma’aden’s long-term strategy and the Saudi Vision 2030. We look forward to
accelerating the program and developing more innovative Saudi-made products.

‫ كاولين‬/ Kaolinand acquired registration ‫ سبيكة ألومنيوم‬/ Ingot

‫ أكسيد المغنيسـيوم المغنيزيا المتكلسة‬/ ‫ قضبان ألومنيوم‬/ Billet
CCM – Caustic Calcined Magnesia
/ ‫ المغنيزيا الخامدة‬/ ‫اكسـيد المغنيسيوم‬ ‫ الواح الالومنيوم‬/ Slabs
‫ المغنيزيـا المنصهرة‬/ DBM – Dead Burned /
Fusedagnesia ‫ سـبيكة ألومنيوم على شكل‬T / Tee-Bar

‫ الحراريات‬/ Refractory Monolithic (Magnesia ‫ البوكسـايت الصناعي‬/ Industrial Grade Bauxite
based)
‫ كربونات المغنيسيوم‬/ Magnesium ‫ فوسـفات ثنائي الالومنيوم‬/ Diammonium
Carbonate / Raw Magnesite / Magnesite Phosphate (DAP)
‫ البوكسـايت منخفض الكثافة‬/ Low Grade ‫ فوسـفات احادي الالومنيوم‬/ Mono-
Bauxite Ammonium (MAP)



27

CONFERENCES

Events

Ma’aden has attended several conferences both locally and
internationally this quarter. Our participation in these events
has helped establish Ma’aden’s position as a key industry player
across all SBUs, contributing to the achievement of Ma’aden’s
2040 strategy.

The Future Investment Initiative, held in Riyadh, gave Ma’aden the opportunity
to connect and engage with global leaders and key decision-makers, as Strategic
partner. Our CEO, SVP and many other senior delegates attended the summit,
gave several media interviews, and participated in panel discussions deliberating
key topics including ESG across the value chain and the new age of investment for
growth.

Furthermore, Ma’aden was a Diamond sponsor at the Fertiliser Association of
India annual seminar, cementing our position as a leader in the phosphate industry
in India.

In addition to FII and IFA, Ma’aden has also sponsored the following leading
industry events:

• Saudi International Conference for Industrial • Occupational Safety & Health Conference
Safety – Platinum sponsor – Platinum Sponsor

• GPCA Responsible Care – Strategic Industry • Fertilizer Club Kenya – Platinum Sponsor
Partner
• Career Fair conference
• IFA Strategic Forum – Diamond sponsor



29

Ma’aden in the News

Ma’aden opens fertilizer terminal in Malawi

Ma’aden and its African subsidiary Meridian Group have
opened a fertilizer terminal in Liwonde, Malawi. The
Liwonde Terminal is strategically located on the rail line
connecting the Republic of Malawi to the deep-sea port
of Nacala in the Republic of Zambia, allowing for high
access to Ma’aden’s fertilizer products across central
and southern Africa.

Saudi Arabia’s largest gold mine to begin
operations Q1 2022 - Ma’aden CEO

Saudi Arabia’s biggest gold mine will start producing in
the first quarter of 2022 as the Kingdom looks to ramp
up exploitation of its reserves and will be using renewable
energy for 13 percent of its energy requirements with a
plan to increase it.

Ma’aden pledges 60% emissions cut
by 2040

The Saudi Arabian Mining Co., or Ma’aden, will cut carbon
emissions by 60 percent by 2040 and reduce groundwa-
ter consumption by 65 percent, its chief executive said in
an interview with Al-Arabiya.

30 Ma’aden Quarterly Newsletter Q4

Saudi mining company Ma’aden turns
$826mln profit in first nine months of 2021

The Saudi Arabian Mining Company, or Ma’aden, has
returned to profit, posting returns of SR3.1 billion ($826
million) in the first nine months of the year.

Oil Giant Saudi Arabia Makes Big Plans for
the Next Era of Batteries

Saudi Arabia’s state miner swung to a second-quar-
ter profit boosted by a surge in commodity prices, and
its chief executive said the rally will likely continue into

Ma’aden expands its maritime transport
fleet with 4 new vessels

Saudi Arabian Mining Company (Ma’aden), Kingdom’s
national mining champion and one of the fastest-grow-
ing mining companies in the world, has signed agree-
ments with Thenamaris LNG Inc. and Exmar Marine NV
to hire a total of 4 vessels to transport Ammonia pro-
duced by Ma’aden.

2022 Calendar

2022 | ‫ﻫـ‬1443 - 1444

JANUARY ‫ﺟﻤﺎدى اﻟﺜﺎﻧﻲ‬ FEBRUARY ‫رﺟﺐ‬ MARCH ‫ﺷﻌﺒﺎن‬

Su Mo Tu We Th Fr Sa Su Mo Tu We Th Fr Sa Su Mo Tu We Th Fr Sa

28 29 1 ‫ رﺟﺐ‬2 3 4 28 29 30 1 ‫ﺷﻌﺒﺎن‬ 2
5 6 7 8 9 10 11
29 30 1 ‫ ﺟﻤﺎدى اﻟﺜﺎﻧﻲ‬2 3 4 5 12 13 14 15 16 17 18 3 45 6 78 9
19 20 21 22 23 24 25
6 7 8 9 10 11 12 26 27 10 11 12 13 14 15 16

13 14 15 16 17 18 19 17 18 19 20 21 22 23
24 25 26 27 28
20 21 22 23 24 25 26

27 28 ‫رﻣﻀﺎن‬ MAY ‫ﺷﻮال | ذو اﻟﻘﻌﺪة‬ JUNE ‫ذو اﻟﺤﺠﺔ‬

APRIL

Su Mo Tu We Th Fr Sa Su Mo Tu We Th Fr Sa Su Mo Tu We Th Fr Sa

29 1 ‫رﻣﻀﺎن‬ 1 ‫ﺷﻮال‬ 2 34 5 67 34 5 6

2 34 5 67 8 8 9 10 11 12 13 14 7 8 9 10 11 12 13

9 10 11 12 13 14 15 15 16 17 18 19 20 21 14 15 16 17 18 19 20

16 17 18 19 20 21 22 22 23 24 25 26 27 28 21 22 23 24 25 26 27
23 24 25 26 27 28 29
29 1 ‫ذو اﻟﻘﻌﺪة‬ 2 28 29 30 1 ‫ذو اﻟﺤﺠﺔ‬ 2

J U LY ‫ﻣﺤﺮم‬ AUGUST ‫ﺻﻔﺮ‬ SEPTEMBER ‫رﺑﻴﻊ اﻷول‬

Su Mo Tu We Th Fr Sa Su Mo Tu We Th Fr Sa Su Mo Tu We Th Fr Sa

34 4 5 67 8 9 67 8
5 6 7 8 9 10 11 10 11 12 13 14 15 16 9 10 11 12 13 14 15
17 18 19 20 21 22 23 16 17 18 19 20 21 22
12 13 14 15 16 17 18 24 25 26 27 28 29 1 ‫ﺻﻔﺮ‬

19 20 21 22 23 24 25 23 24 25 26 27 28 29

26 27 28 29 30 1 ‫ﻣﺤﺮم‬ 2 234 5 30 1 ‫ رﺑﻴﻊ اﻷول‬2 34 5

3

OCTOBER ‫رﺑﻴﻊ اﻟﺜﺎﻧﻲ‬ NOVEMBER ‫ﺟﻤﺎدى اﻷول‬ DECEMBER ‫ﺟﻤﺎدى اﻟﺜﺎﻧﻲ‬

Su Mo Tu We Th Fr Sa Su Mo Tu We Th Fr Sa Su Mo Tu We Th Fr Sa

6 8 9 10 11 12 8 9 10
7 8 9 10 11 12 13 13 14 15 16 17 18 19 11 12 13 14 15 16 17
14 15 16 17 18 19 20 18 19 20 21 22 23 24
21 22 23 24 25 26 27 20 21 22 23 24 25 26 25 26 27 28 29 30 1 ‫ﺟﻤﺎدى اﻟﺜﺎﻧﻲ‬
28 29 1 ‫ رﺑﻴﻊ اﻟﺜﺎﻧﻲ‬2 3 4 5 2 34 56 78
67 27 28 29 30 1 ‫ ﺟﻤﺎدى اﻷول‬2 3

4 567

Ramadan Eid Al-Fitr
Eid Al-Adha
Return to work National Day Holiday

Weekends

maadenKSA
maaden.com.sa