Saudi Arabian Mining Company (Ma'aden) reported production and earnings guidance for 2016. The company delivered production gains in all of its businesses in 2016 despite a challenging year in terms of aluminium and phosphate prices. During 2016, Ma'Aden produced 2.723m tonnes of ammonium phosphate, up 3% year on year, and 1.229m tonnes of ammonia, up 15% year on year. Construction continued throughout 2016 on the $8 billion Wa'ad Al Shamal phosphate project for the production of ammonia.

For the year, revenue was SAR 9.5 billion, down 13% year on year. Earnings before interest, taxes, depreciation and amortisation (EBITDA) was up slightly year on year (1%) to SAR 3.7 billion, while net income plummeted by 38% to SAR 401 million.