Maaden signs 5-year extension for Murabaha revolver loan facility
14/12/2017
Argaam
Saudi Arabian Mining Co. (Maaden) has signed a five-year extension and amendment to its existing five-year Murabaha revolver loan facility, originally signed on Dec. 18, 2012, it said in a statement to Tadawul on Wednesday.
The facility, which was reduced from SAR 9 billion to SAR 7.5 billion, is currently undrawn and will provide liquidity support, it said.
The mining giant reported a net profit of SAR 819.6 million for the first nine months of 2017, a 73 percent year-on- year (YoY) surge due to a 24 percent rise in sales, higher aluminum prices, and an increase in profit share from joint venture Maaden Barrick Copper Co.
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