Ma'aden Announces $110B Investment to Double Aluminium Business and Expand Phosphate, Gold Operations

Published: Feb 3, 2026 16:30

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Ma'aden CEO Bob Wilt announced an unprecedented $110 billion capital program over the next decade at the Future Minerals Forum in Saudi Arabia. The investment will double Ma'aden's aluminium business within the next five years, while also expanding its phosphate and gold operations. Wilt stressed collaboration with government, policymakers, and partners like Alcoa to align with Saudi Arabia’s critical minerals strategy. “Aluminium is a tech play,” he said, noting its vital role in electrifying the Kingdom to support ambitions as a data mining and AI hub. He emphasized sustainable operations, responsible practices, and nurturing talent for the green transition.

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