Saudi Arabian Mining Company (Marden) has set its 2026 full-year capital expenditure (CAPEX) outlook at 15.5 billion Saudi riyals ($4.13 billion).
According to the company’s 2025 financial statements, capital expenditures include R12.6 billion ($3.4 billion) for growth projects.
Growth capital expenditures include the completion and commissioning of the first phase of the Phosphate 3 project, further progress at Ar Rjum and the Aluminum Recycling Center, and strategic initiatives such as project research and technology.
The first phase of the Phosphate 3 megacomplex is expected to be completed by the end of 2026, with production starting in 2027.
The plant is expected to add 1.5 million tonnes per year (MT) of production capacity by the end of 2026.
Marden reported sales of SAR 10.6 billion, up 7% year-on-year, and net profit attributable to shareholders of SAR 1.7 billion (compared to a loss of SAR 106 million a year earlier).
Last year, Marden had projected capital spending of up to $3 billion. Key contracts signed in 2025 include:
Three major contracts valued at a total of $922 million related to the development of a third phosphate fertilizer production project.
$104 million engineering, procurement and construction management (EPCM) contract with Bechtel for the Ar Rjum mine.
The mining giant has awarded an engineering, supply and installation contract worth €128 million ($149 million) to Finland’s Metso for a gold processing plant at its Ar Rjum mine. This order was booked by Metso for the third and fourth quarters of 2025, but the official statement was released in January 2026.
(Edited by Anoop Menon) (anoop.menon@lseg.com)
Subscribe to Project’s PULSE newsletter, delivering trusted news, updates and insights on project activities, developments and partnerships across sectors in the Middle East and Africa.
