Riyadh – Mubasher: Saudi Arabian Mining Company (Maaden) has called on shareholders to attend and vote at its 16th ordinary general meeting (OGM) on 14 October, with the agenda including the election of board members and approval of a joint venture agreement with Saudi Aramco to develop the mineral potential of the Arabian Shield.
The meeting will be held remotely through the Tadawulaty platform at 6:30 p.m. Saudi time.
Shareholders will vote on the election of Maaden’s board members for a three-year term starting 25 October 2026 and ending 24 October 2029.
The agenda also includes voting on the businesses and contracts between Maaden Gold & Base Metals Holding Company, a wholly owned Maaden subsidiary, and Saudi Aramco Development Company, a wholly owned subsidiary of Saudi Aramco.
The transaction involves a shareholders’ agreement to establish a joint venture aimed at developing and unlocking the mineral potential of the Arabian Shield. The new company will have initial paid-up capital of SAR 197.50 million, with no preferential terms.
The transaction involves indirect interests from Aramco Chairman Yasir O. Al Rumayyan and senior Aramco executive Mohammed bin Yahya Al Qahtani.
