Saudi Arabian Mining Company (Ma’aden) has signed agreements with two leading European shipping groups Thenamaris LNG and Exmar Marine NV to hire a total of four vessels to transport ammonia manufactured by the company.
The agreement was signed during the annual International Fertilizer Association conference, held in Lisbon, Portugal. The first quarter of 2022 will see the execution of both shipping agreements. As a result of these agreements, Ma’aden will increase its Ammonia maritime transport fleet to seven vessels, with an annual shipping capacity of about two million tons.
Ma’adan’s mine-to-market phosphate business in Saudi Arabia includes three mega-production plants, Wa’ad Al Shamal Industrial Minerals City in the north, another at Ras Al Khair Industrial City East which is a phosphate and bauxite processing super-hub, and the Phosphate 3 expansion, which will add over 1 million tons of ammonia production to reach 3.3 million tons and 3 million tons of phosphate fertilizer, bringing that to a total production capacity of more than 9 million tons per year.
“We started ammonia exports with just one ship back in 2016 and these new chartering agreements will strengthen our global logistics network and enable Ma’aden to serve its customers faster. Ma’aden’s ammonia business is an integral part of our broader phosphate production portfolio, and I am pleased to say that we are on track to start production at our third ammonia plant in Ras Al Khair Industrial-City in the first quarter of 2022.”
Since its IPO in 2008, Ma’aden has grown into one of the world’s largest mine-to-market manufacturing value chains for varied ammonium phosphate fertilizer products. Ma’aden now serves over 30 markets throughout the world.
Ma’aden has become the leading multi-commodity company for the development of the Saudi mining and minerals industry, the third pillar of the Saudi economy, and one of the world’s top fifteen mining companies, in a record time. It is a major contributor to Saudi Arabia’s status as one of the top three global manufacturers and exporters of phosphate fertilizers, as well as a key player in global food security stability.