Further to the companys announcement on Tadawul on November 24, 2010 The Saudi Arabian Mining Company, Maaden today announces that Maaden Phosphate Company (MPC) yesterday (Friday 17th, 2011) has started initial production from the first production lines of Sulphuric Acid, Phosphoric Acid for captive use and Diammonium Phosphate Fertilizer (DAP) the finished product at its production complex in Ras Az Zawr. The production rate will be increased as the other producing lines commence operation.
When at full production MPC will produce approximately 3 million tonnes per year of DAP the finished product and remains on course to be completed within budget.
Any further developments concerning the project Ma'aden will announce at later time.
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.