Saudi Arabian Mining Co. (Ma’aden) has reported a 160% increase in net profit for the first half of 2024, reaching SR2 billion ($532 million). This growth is driven by higher sales volumes of primary aluminum and gold, reduced raw material costs, and favorable one-off financial adjustments, including an SR469 million insurance claim. Despite facing lower commodity prices and increased taxes, Ma’aden is making significant strides in its industrial projects, including the Phosphate 3 expansion and a new aluminum recycling plant. The company's strong performance highlights its contribution to Saudi Arabia's economic diversification and industrial development.