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RIYADH: Shares of the Gulf’s largest mining firm, Saudi-listed Ma’aden, hit its highest value since listing at SR95.5 ($25.5).
The company's shares reached that level at 10:36 a.m. Saudi time on Thursday Jan. 20.
The firm, also known as the Saudi Arabian Mining Company, returned to profit last year, posting returns of SR3.1 billion ($826 million) in the first nine months 2021.
This was compared to a net loss of SR780 million in the same period in 2020, when the COVID-19 pandemic hit pushed industries to the wall.
The recovery was due to higher average sales prices of all products except gold.
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