Saudi Arabian Mining Company (Ma'aden) announced that its subsidiary (Ma'aden Phosphate Company "MPC") has stopped its operational works at its cooling facility due to unscheduled technical repairs resulted in suspended production at the ammonia plant located within the company's complex in Ras Al-Khair City for Mining Industries starting from yesterday. It said that the stoppage is expected to approximately last 10 days. In an announcement published on the site of Saudi Financial Market "Tadawul", the Company explained that ammonia product is used in dual-ammonium phosphate industry, and that the suspension will not have an impact on the course of production in Diammonium phosphate plant due to the availability of sufficient inventory of ammonia to cover the downtime. Ma'aden also confirmed that the stop will not affect the company's ability to meet its obligations toward its customers, nor a substantial impact on its financial results, as any significant developments in this regard will be announced later. It is worth mentioning that MPC is a joint venture between Ma'aden and Saudi Basic Industries Corporation (SABIC) divided by 70% for the former and 30% for the latter.
