Maaden Phosphate Unit Signs $4.1 Billion Finance Deal

Maaden seeks to boost cash flow amid weak commodities demand
Firm targets becoming one of seven top global miners: CEO

A road leads towards the Maaden Phosphate Co. plant in Ras Al-Khair, Saudi Arabia.
Photographer: Mohammed Al-Nemer/Bloomberg

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By Matthew Martin and Shaji Mathew

June 21, 2020 at 5:28 AM UTC

Updated on

June 21, 2020 at 8:42 AM UTC

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Saudi Arabian Mining Co.’s phosphate unit signed an accord with a group of lenders to refinance and reschedule $4.1 billion in debt as it seeks to trim interest costs amid a collapse in commodity prices.