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US-Saudi Business Opportunities Forum Saudi Arabian Mining Company Company 29 April 2010

US-Saudi Business Opportunities Forum Saudi Arabian Mining Company Company 29 April 2010 Mohammad Bajba. Table of Contents. Introduction Evolution of Ma’aden Ma’aden Current Business Ma’aden Aluminum Project Available Infrastructure Future Opportunities. MA’ADEN.

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US-Saudi Business Opportunities Forum Saudi Arabian Mining Company Company 29 April 2010

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  1. US-Saudi Business Opportunities Forum Saudi Arabian Mining Company Company 29 April 2010 Mohammad Bajba

  2. Table of Contents • Introduction • Evolution of Ma’aden • Ma’aden Current Business • Ma’aden Aluminum Project • Available Infrastructure • Future Opportunities

  3. MA’ADEN • Government investment in infrastructure to promote diversification facilitates growth of minerals industry and downstream opportunities. • Well positioned for growth as Saudi Arabia expands into new industries to take advantage of abundant mineral resources and well advanced infrastructure.

  4. Evolution of Ma’aden 1997~1999 2000~2002 2003~2006 2007~2008 2009~ Beginning Gold Development Mining Law & Railway Capitalization Expansion & Growth 1997 Established 1999 50% of Petromin interest in SCPM 2000 Al Hajar Gold Mine commissioned 2002 Bulgah Gold Mine Opened 2004 KSA Mining Investment Law 2006 North-South Railway approved by Council of Ministers 2007 Phosphate Joint Venture with SABIC 2008 Completed IPO 50% share public 2009 Aluminum Joint Venture with ALCOA ECA with SWCC Today Publicly traded company (CAP over SR.9,25B With aspiration for massive growth

  5. Ma’aden Operation’s (KSA)

  6. Current Business • World class diversified mining and minerals group. • Organized to develop non-petroleum resources into competitive industries.

  7. Ma’aden Gold Mines World Competitive Gold Mines

  8. Al Khabra Project Ma’aden Phosphate Project Ma’aden Phosphate 30% 70% Ma’aden Phosphate Company 93% Completed S/U 4thQ 2010 Feasibility Study Will be completed August 2010

  9. SWCC Downstream Industries Port and Sea Water Basins Aluminum Phosphate

  10. Table of Contents • Introduction • Evolution of Ma’aden • Ma’aden Current Business • Ma’aden Aluminum Project • Available Infrastructure • Future Opportunities

  11. Ma’aden Aluminum Project • Lowest Aluminum cost worldwide • Fully integrated complex (Mine & Refinery/ Smelter/Rolling Mill) • Leading role in advancing Local and Regional economy as a major hub for the Aluminum and downstream sectors • A catalyst for the generation of significant new businesses and employment opportunities

  12. One Project - Two Phases Baiytha MINE 4,000 ktpy (dry) 1,350 MW SWCC Bauxite Ore Alumina Refinery 1,800 ktpy Bulk Alumina Alumina Aluminum Smelter 740 ktpy Export Sales Aluminum Standard Ingot & T-Bar Phase 2 Rolling Slab Rolling Mill 380 ktpy Flat Rolled Products Domestic Sales Phase 1

  13. Aluminum Complex - Utilities Mine &Refinery 4 Mt Mine Capacity 1.8 Mt/yr (SGA) Water (Potable (13,000 mt/d (minimum)) 610 As per “MinPet“ Resource Allocation letter dated 7th July 2009 64 mw Water ( Distillate (12,000 mt/d (maximum)) Rolling Mill Hot mill : 460 Kta Cold mill: 250 Kta Aramco Gas (21mmscf/day) 4594 52.3 mw Heavy Crude Oil 8,000 BPD 1228.5 mw (ICH & system losses) Smelter 740 ktpa Alum.(AP37) 2 PL – 360 Pots/line Natural Gas 500 mmscf/d (309+191) 21mmscf/day (MAC) 7268 (1,350 MW) Electricity Gas (521 mmscf/day) SWCC PROJ Power : 2400 MW Water : 1,025,000 M3/D New Circuits National Water Grid 1,000,000 tpd water National Electricity Grid 1,050 MW

  14. EnergyConversionAgreement Combined Power Project with SWCC SWCC 2400MW 1.025 M m3/d SWCC Power SWCC Water SWCC power Ma’aden power Ma’aden Water SWCC water 1000 MW 1 M m3/d Ma’aden off take 1350MW & 0.025 mM3/d SWCC Off take1M m3/d 1050MW to SEC 50MW DS industries in RSZ Larger Station with Efficient Energy Utilization Ma’aden Ma’aden Power Ma’aden Water • Economies of scale • - Capital - single EPC, building cost • - Operating - single O&M contract • Significantly lower capital investment • Improved efficiencies by cogenerating of power & water 1350 MW 0.025 M m3/d

  15. Table of Contents • Introduction • Evolution of Ma’aden • Ma’aden Current Business • Ma’aden Aluminum Project • Available Infrastructure • Future Opportunities

  16. National Infrastructure Enhancement Saudi Railway Company • Longest Worldwide (1,500KM) • Overall performance for mineral line is 97% • Expected completion date is Sep. 2010 • Minerals Industrial City • Strategic metals & minerals industry clusters • Center of excellence • Jubail Industrial City Partnership • Port Development • 23 Km2 Area • Six Berths • Expected Completion • date is Nov. 2010

  17. Table of Contents • Introduction • Evolution of Ma’aden • Ma’aden Current Business • Ma’aden Aluminum Project • Available Infrastructure • Future Opportunities

  18. Advantages for Investors • Natural resources • Clear mining laws • Expanding supplier & services • Liquidity & Stability • Advance infrastructure • Proximity to markets • Access to energy

  19. Aluminum End-user Applications Casting Products Wires & Cables Rolled Products Extrusions

  20. Opportunities for Partnership Actively seeking partnership opportunities • Joint ventures • Investment • Technology • Suppliers and professional service • Massive exploration potential

  21. Thanks …

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