Ma'aden Declines as Firm Delays DBM Production

2011-09-28

Sep. 27, 2011 - The Tasi benchmark added 0.34% Monday, closing at 6,103.78 points. Shares of Saudi Arabian Mining Company, knows as Ma'aden, dipped 0.39% to SR25.70.
Earlier in the day Ma'aden said it will commence commercial production of Caustic Calcined Magnesia on October 1st.
"Production has exceeded 13,000 tons to date out of the 39,000 tons designed annual capacity. Caustic Calcined Magnesia is used for agricultural and construction applications and in some environmental products and fuel additives," Ma'aden says in a statement.
Ma'aden, however, has to postpone production of Dead Burned Magnesia to the first quarter of 2012 instead of the third quarter of 2011 in order to ensure "stable production operations for this product."