US-Saudi Business Opportunities Forum

Saudi Arabian Mining Company Company

29 April 2010Mohammad Bajba

Introduction

Evolution of Ma’aden

Ma’aden Current Business

Ma’aden Aluminum Project

Available Infrastructure

Future Opportunities

Table of Contents

Government investment in infrastructure

to promote diversification facilitates growth

of minerals industry and downstream

opportunities.

Well positioned for growth as Saudi

Arabia expands into new industries to take

advantage of abundant mineral resources

and well advanced infrastructure.

MA’ADEN

Sustainable

Well

Capable Leadership

Attainable Opportunity

Beginning Gold Development Mining Law & Railway Expansion & GrowthCapitalization

1997~1999

2000~2002 2003~2006

2009~2007~2008

1997Established

199950% of Petromin interest in SCPM

2000Al Hajar Gold Mine

commissioned

2002Bulgah Gold Mine

Opened

2004KSA Mining

Investment Law

2006North-South

Railway approved by Council of

Ministers

2009Aluminum Joint

Venture with ALCOA

ECA with SWCC

TodayPublicly traded

company (CAP over SR.9,25B

With aspiration for massive growth

2007Phosphate Joint

Venture with SABIC

2008Completed IPO

50% share public

Evolution of Ma’aden

Ma’aden Operation’s (KSA)

Current Business

Ma’adenSaudi Arabian Mining Company

Gold & Base

Metals Company

5 operating gold mines

Phosphate Company

SABIC JV - Mine,

Ammonia, DAP plant

Aluminum Project

Alcoa JV - Mine,

Refinery, Smelter,

Rolling Mill

Industrial Minerals Company

Magnesite, kaolin,

garnet, et al.

AV Company

Sahara JV EDC &

Caustic Soda

World class diversified mining

and minerals group.

Organized to develop non-

petroleum resources into

competitive industries.

Mines Started Years of Operation

Gold Production (1988 to 2009)

Mahd 1988 23 2,131,043 oz

Sukhaybarat 1991 20 952,586 oz

Al Hajar 2001 10 254,263 oz

Bulghah 2003 8 488,817 oz

Al Amar 2008 3 86,359 oz

Total 3,913,068 oz

World Competitive Gold Mines

Ma’aden Gold Mines

Al Khabra Project Ma’aden Phosphate Company

Feasibility Study Will be completed

August 2010

93% CompletedS/U 4thQ 2010

70% 30%

Ma’aden Phosphate Project

Ma’aden Phosphate

9

Port and Sea Water Basins

Phosphate

Aluminum

SWCC

Downstream Industries

Introduction

Evolution of Ma’aden

Ma’aden Current Business

Ma’aden Aluminum Project

Available Infrastructure

Future Opportunities

Table of Contents

Ma’aden Aluminum Project

Lowest Aluminum cost worldwide

Fully integrated complex (Mine & Refinery/ Smelter/Rolling Mill)

Leading role in advancing Local and Regional economy as a major hub for the Aluminum and downstream sectors

A catalyst for the generation of significant new businesses and employment opportunities

1,350 MW

SWCC

Export Sales

Domestic Sales

Aluminum Smelter740 ktpy

Rolling Mill380 ktpy

Rolling Slab

Aluminum Standard Ingot

& T-Bar

Flat Rolled Products

Phase 1

Bulk Alumina

Phase 2

BaiythaMINE

4,000 ktpy (dry)

Alumina Refinery1,800 ktpy

Bauxite Ore

Alumina

One Project - Two Phases

Aramco

Mine &Refinery

4 Mt Mine Capacity1.8 Mt/yr (SGA)

Rolling MillHot mill : 460 Kta Cold mill: 250 Kta

SWCC PROJPower : 2400 MW Water : 1,025,000

M3/D

Heavy Crude Oil8,000 BPD

Natural Gas500

mmscf/d(309+191)

21mmscf/da

y(MAC)

National Water Grid

1,000,000 tpd water

Gas

(21

mm

scf/

day)

Gas (521

mmscf/day)

(1,3

50

MW

) Wate

r (P

ota

ble

(1

3,0

00

mt/

d (

min

imum

))

Wate

r (

Dis

tilla

te (

12

,00

0 m

t/d

(m

axim

um

))

New Circuits

National Electricity Grid

1,050 MW

610

4594

7268

64 mw

52.3 mw

1228.5 mw

(ICH & system losses)

Ele

ctri

city

Smelter740 ktpa Alum.(AP37)2 PL – 360 Pots/line

As per “MinPet“ Resource Allocation letter

dated 7th July 2009

Aluminum Complex - Utilities

SWCCPower

SWCC Water

Ma’adenPower

Ma’adenWater

1000 MW

0.025 M M3/D1350 MW

1 M M3/D

S W C C

Ma’aden

Combined Power Project with SWCC

Economies of scale- Capital - single EPC, building cost- Operating - single O&M contract

Significantly lower capital investment Improved efficiencies by cogenerating of power & water

Larger Station with Efficient Energy Utilization

SWCCpower

SWCC waterMa’aden

powerMa’aden

Water

2400MW 1.025 M m3/d

Ma’aden off take 1350MW

& 0.025 mM3/d

1050MW to SEC

SWCC Off take1M m3/d

50MW DS industries

in RSZ

Introduction

Evolution of Ma’aden

Ma’aden Current Business

Ma’aden Aluminum Project

Available Infrastructure

Future Opportunities

Table of Contents

Saudi Railway Company• Longest Worldwide

(1,500KM)• Overall performance for

mineral line is 97%• Expected completion

date is Sep. 2010

Port Development • 23 Km2 Area• Six Berths • Expected Completion

date is Nov. 2010

Minerals Industrial City• Strategic metals & minerals

industry clusters• Center of excellence• Jubail Industrial City

Partnership

National Infrastructure Enhancement

Introduction

Evolution of Ma’aden

Ma’aden Current Business

Ma’aden Aluminum Project

Available Infrastructure

Future Opportunities

Table of Contents

Natural resources

Clear mining laws

Expanding supplier & services

Liquidity & Stability

Advance infrastructure

Proximity to markets

Access to energy

Advantages for Investors

Casting Products

Rolled Products

Aluminum End-user Applications

Wires & Cables

Extrusions

Actively seeking partnership opportunities

Joint ventures

Investment

Technology

Suppliers and professional service

Massive exploration potential

Opportunities for Partnership

Thanks …