Saudi Arabian Mining Company (Ma’aden) is ramping up efforts to expand its minerals business, aiming to double gold output by 2030 and establish a domestic rare-earths supply chain in line with Vision 2030. The company reported a 73% increase in first-half net profit to $920 million, primarily driven by phosphate. Ma’aden plans to invest $2.5 billion annually over the next five years to grow in copper, gold, and rare earths, essential for electric vehicles, renewables, and defense. Despite setbacks, Ma’aden is strategically building partnerships and exploring new opportunities to position Saudi Arabia as a key player in the critical minerals market.

Read more at Yahoo Finance: Saudi Arabian Mining Company Looks to Double Gold Production By 2030