Robert Wilt

Ma’aden focuses on both local content contribution, exemplified by investments in education, infrastructure, and environmental sustainability, and global investments in the industry.

Can you provide an overview of the evolution of Ma’aden?

When oil was discovered in Saudi Arabia, most of the exploration efforts focused on oil and gas, though the Kingdom was fortunate to discover mineral resources such as phosphate, bauxite, and gold. 25 years ago, Ma’aden was just an office in the Minister of Petroleum and Energy, and it was not viewed as a significant industrial potential powerhouse. For the first 10 years, it was strictly a small gold mining company with access to bauxite and phosphate reserves; however, by the late 2000s, we started to convert our phosphate and bauxite resources into an integrated value chain. Most of the company’s current assets did not exist until 2010, and in just 10 years, we have grown to the world’s second-largest exporter of phosphate fertilizer with the lowest-cost integrated value chain. Ma’aden serves markets on every continent except Antarctica and is the fastest-growing mining company in the world by revenue growth over the last five years.

How will Ma’aden’s Tharwah initiative position the company’s local content contribution?

We launched Tharwah last year as part of our commitment to developing the areas in which we operate. We have established schools of excellence in the north and are actively investing in the communities around our operations by improving the educational system, building infrastructure, and creating economic opportunities. Local content is a key component of our ESG agenda, and we have a great opportunity there to make a positive impact difference on the communities where we operate. We are committed to leaving the ground, community, and entire area better than we found it. For example, we have already planted 3.1 million trees in mine rehabilitation areas and local communities and are committed to planting 20 million trees in total. We are focused on deploying sustainable practices, reducing our carbon footprint, minimizing groundwater use, and utilizing technology to minimize our environmental impact. We want to demonstrate that we are a good neighbor, providing jobs, education, infrastructure, medical facilities and training while leaving the condition of the environment in better condition than we found it.

What steps are being taken to promote the internationalization of the company?

Our company’s first step toward internationalization is the establishment of Manara Minerals, a joint venture between Ma’aden and PIF. The Kingdom’s aspirations to develop downstream industries such as electric vehicles, aerospace, shipbuilding, and steel will require a substantial amount of minerals. We are making significant investments in assets and companies globally, where we can take an offtake agreement and deploy it into the Kingdom. In its first major deal in July, Manara acquired a 10% stake in global mining company Vale Base Metals, an investment that will support expanded production of critical minerals. The electric vehicle industry is projected to grow rapidly, and we want to be a part of it, though it will require seven times more copper than we have today and five times more aluminum. As the global energy transition happens, this is the industry to be in.

What are your main objectives set on your 2024 agenda?

In 2024 we will continue to build on the progress we have made in 2023. First, we will implement our new decentralized model, which will eliminate hierarchical decision-making and promote a culture of change within the business. We will hardwire this into our performance management system to ensure its success. At the same time, we have massive exploration efforts underway, and we aim to deploy the most drill rigs of any mining jurisdiction globally in Saudi Arabia this year. Our goal is to get our three phosphate projects approved, out of the design phase and into execution. We also plan to hire 800 more people, in addition to hitting our production volume targets. We are strongly committed to becoming the third pillar of the Saudi economy.