Riyadh - Sharikat Mubasher: Saudi Arabian Mining Company (Ma'aden) completed the acquisition of Mosaic Phosphates' entire share capital in Ma'aden Wa'ad Al Shamal Phosphate Company, 25%, in addition to related marketing rights for phosphate and fertilizer products.

In a bourse statement, Ma’aden revealed that it acquired Mosaic Phosphates’ shares, representing 25% of the share capital of Wa'ad Al Shamal, through increasing its share capital from SAR 36.9 billion to SAR 38 billion.

The final impact of the acquisition will be reflected in Ma'aden's consolidated financial statements for the year ended 31 December 2024.

Ma’aden Wa’ad Al Shamal Phosphate is an $8 billion joint venture situated in Wa’ad Al Shamal Minerals Industrial City. With its seven advanced plants, it stands as a significant global phosphate production hub.