RIYADH: The Saudi Arabian Mining Co., or Ma’aden, will cut carbon emissions by 60 percent by 2040 and reduce groundwater consumption by 65 percent, its chief executive said in an interview with Al-Arabiya.

Speaking on the sidelines of the Future Investment Initiative in Riyadh, Abdulaziz Al-Harbi said the production at the mining company would not slow.

The mining company on Monday posted profit of SR1.27 billion ($339 million), after deduction of zakat and taxes, in the first nine months of the year as compared to SR6.47 million a year ago. Revenue over the same period rose 44 percent to SR6.7 billion.

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