Saudi Arabian is state having big potency to do investment in mine exploration. as has been known arab saudi has done investment at some activities of mining exploration in world. Company successfulness of Saudi Arabian Mining Company in doing exploration of gold mine is an achievement in mine exploration of mine.

Now Saudi Arabian Mining Company, Ma’aden has done cooperation with the biggest mine company of world to do mine exploration project of phosphate mine and alumunium, this project is project of ambitious mining exploration.

some times ago, the biggest mine company of Saudi Arabian, Ma’aden launchs IPO out of 462,500,000 stocks, for the agenda of increasing company legal capital to increase investment of company in activity of mining exploration.

The IPO is to cover projects costs led by the company, including a 740,000-tonne aluminum smelter with Rio Tinto and a 3-million tonne phosphate and by-products plant with Saudi Basic Industries Corporation (Sabic). The smelter will cost $7.53 billion and plans to export 70% of the production.

The shares will be allocated in three stages with limitations on the number of available shares available to subscribers. The allocation of shares to retail subscribers will take place in two stages. In the first stage, each subscriber will get a minimum of 25 shares while during the second stage up to 2,000 shares will be allocated to subscribers who have applied for more than 25 shares.

The other 50% of Ma’aden’s capital is held by the state fund, the Public Investment Fund, under the supervision of the Finance Ministry. Only Saudi investors will be able to buy that stock.

Dabbagh said public subscription of the IPO will be open for a week’s time from July 5, 2008 until the end of working hours on July 14, 2008.

Ma’aden was established in March 1997 by the government with the purpose of engaging in the development, advancement and improvements of all aspects of the mineral industry, mineral products and by-products in Saudi Arabia. Ma’aden is currently engaged in a substantial effort to develop phosphate and bauxite reserves along with gold and industrial minerals that the company already mines.

JP Morgan is acting as financial adviser and sole bookrunner in relation to the offering.

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