Saudi Arabian Mining to focus on preserving cash instead of shareholder payout

Saudi Arabian Mining Co will focus on keeping a cash cushion rather than returning money to shareholders, chief executive officer Mosaed Bin Sulaiman Al Ohali said.

“As we look forward at the current situation of the market, I think we need to conserve as much cash as possible to take care of any emerging issues,” Al Ohali said.

Marriott CEO says success isn’t guaranteed, but optimistic on balance in KSA

Vast wealth and the promise of dramatic change make for cautious optimism concerning Saudi Arabia, the chief executive…

6 Views | the publication reaches you by | Saudi Arabia Today

Previously, the company’s shareholders had decided not to pay a dividend and “fundamentally nothing has changed,” he said.

Saudi Arabian Mining, also known as Maaden, appointed Al Ohali as CEO last month.

Al Ohali also said progress on Maaden’s new projects has been impacted by curfew and movement restrictions in Saudi Arabia. He added that Maaden has no plans to cut capital expenditure in response to coronavirus.

Metito Awarded Jubail-II SWRO 400,000m3/d Seawater Desalination Plant Project

The project for the design, engineering and procurement of the new 400,000m3/day Jubail II seawater reverse osmosis (SWRO)…

148 Views | the publication reaches you by | Saudi Arabia Today

Related Articles

You can subscribe to our Facebook, Twitter and Google pages or use our RSS feed channel to always read the most important news about Saudi Arabia, the Gulf and the world.

Sponsored Publications