Maaden approves SAR 197.50 million venture before Maaden stock results

Published on 10/19/2026 at 09:12 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Q2 revenue rose 24.49 percent from Q1. November 3 brings the next report for Maaden stock after SAR 10.94 billion revenue.

Mining venture and earnings dates

Shareholders approved Maaden's SAR 197.50 million Arabian Shield venture on October 14, 2026.
Q2 2026 revenue reached SAR 10.94 billion, up 24.49 percent from Q1 2026.
Maaden's new board term starts on October 25, 2026, before earnings on November 3, 2026.

Maaden, SA123GA0ITH7, Illustration mit AI erstellt.

Maaden (ISIN SA123GA0ITH7) received shareholder approval for a SAR 197.50 million joint venture focused on mineral resources in the Arabian Shield on October 14, 2026, according to Argaam. The decision gives Maaden stock a concrete exploration milestone before the company's next earnings report on November 3, 2026.

Three milestones since August

On August 9, 2026, Maaden reported second-quarter revenue of USD 2.90 billion, up 16.00 percent year over year, while group EBITDA rose 3.00 percent to USD 1.00 billion, according to Discovery Alert. On October 7, 2026, AlCircle reported that aluminium revenue increased 49.00 percent year over year to USD 1.01 billion in the second quarter. On October 14, 2026, shareholders approved the SAR 197.50 million venture and a new board term, as Argaam reported on October 15.

What does the venture add?

The joint venture will explore Zone 4 in the Arabian Platform, with an area of 182,000 square kilometers. Maaden is expected to hold 51.00 percent and Saudi Aramco 49.00 percent, while the new company starts with SAR 197.50 million in paid-up capital, according to Argaam. The scale expands Maaden's exploration pipeline, but the financial effect will depend on discoveries, development spending and eventual production.

Revenue sets the next test

Maaden's Q2 2026 revenue was SAR 10.94 billion, compared with SAR 8.79 billion in Q1 2026, a quarter-over-quarter increase of 24.49 percent. Net income rose from SAR 1.64 billion in Q1 2026 to SAR 2.18 billion in Q2 2026, an increase of 32.98 percent, according to Investing.com.

Dates investors can quantify

The new board term starts on October 25, 2026, and runs through October 24, 2030, according to Argaam. The next earnings report is scheduled for November 3, 2026, according to Investing.com.

What the next report will test

The growth picture remains uneven across divisions. In Q2 2026, gold EBITDA rose 46.00 percent to USD 334.00 million, while phosphate EBITDA fell 49.00 percent to USD 328.00 million after output disruptions, according to Discovery Alert. The November 3 report will show whether aluminium and gold strength can offset pressure in phosphate operations.