Saudi Arabian Mining Co. — Capital/Financing Update 2013

Dec 29, 2013

SAUDI ARABIAN MINING COMPANY (MAADEN) ANNOUNCES LATEST DEVELOPMENT OF ONE OF TWO POT LINES AT THE SMELTER OF ITS SUBSIDIARY MAADEN ALUMINUM COMPANY

1211 · 29/12/2013 08:53:50 · Announcement #32714 · View on Saudi Exchange

SAUDI ARABIAN MINING COMPANY (MAADEN) ANNOUNCES LATEST DEVELOPMENT OF ONE OF TWO POT LINES AT THE SMELTER OF ITS SUBSIDIARY MAADEN ALUMINUM COMPANY

Further to the companys announcement on Tadawul on 15/12/1434H (corresponding to 20/10/2013G), the Saudi Arabian Mining Company (Maaden) announces today 26/02/1435H (corresponding to 29/12/2013G) the restart of the first potline at the smelter of its subsidiary Maaden Aluminum Company that is 74.9% owned by Maaden and 25.1% owned by Alcoa.

The ramp up and increase of first pot line production is expected to reach production capacity within the second quarter, 2014.

This will have no significant financial impact on the results in 4Q, 2013 as the project has not yet reached commercial production. The production will be in its ramp-up stage until reaching gradually its designed capacity of 740 kmt per year, following the industry best practice.

Any material developments will be announced in due time.

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