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Asharq Al-Awsat
Asharq Al-Awsat
Business
Asharq Al-Awsat

Saudi Arabia's Ma'aden Forms JV to Invest in Mining Assets Abroad

Saudi Arabian Mining Co (Ma'aden) said it agreed to form a joint venture with the Kingdom's sovereign wealth fund to invest in mining assets globally. 

Saudi Arabian Mining Co (Ma'aden), the Gulf's largest miner, said on Wednesday it agreed to form a joint venture with the Kingdom's sovereign wealth fund to invest in mining assets globally. 

Ma'aden will own 51% in the venture while the Public Investment Fund (PIF) will own 49%, the company said in a regulatory filing. 

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