Saudi Arabia’s state miner, Maaden, has announced a profit and plans to boost its capital by $3.2 billion amid a surge in commodity prices.
Saudi Arabian Mining Co. will offer 1 bonus share for each held, according to a statement.
That will double its capital to 24.6 billion riyals ($6.6 billion) and will “boost the future growth plans,” the company said.
Commodity prices have climbed in the past year on booming demand, fueled by trillions of dollars in government stimulus and the global economic rebound from the coronavirus pandemic.
