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Ma'aden was formed by Royal decree in 1997 to facilitate the development of Saudi Arabia's mineral resources and was originally wholly owned by the Saudi Government before 50% of its shares were floated on the Saudi Stock Exchange (Tadawul) in 2008.
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Ma'aden and its subsidiaries Ma'aden Gold and Base Metals Co. (MGBM) and Saudi Company for Precious Metals are involved in exploration activities to locate precious metals and related minerals at many sites. MGBM currently operates five gold mines in Saudi Arabia and since 1988 has produced more than 4 million ounces of gold.
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