Ma’aden Renews 600,000 t Fertilizer Supply Deal with Bangladesh

The Saudi Arabian Mining Company (Ma’aden) has taken a step further in securing its commitment to global phosphate fertilizer demand by renewing its supply agreement with the Bangladesh Agricultural Development Corporation (BADC). The renewal, which involves the provision of 600,000 metric tons of fertilizers to BADC, was formalized during a BADC delegation's visit to Ma’aden’s headquarters.

Ma’aden holds a substantial stake in Bangladesh's agricultural landscape, supplying around 42% of the country's estimated diammonium phosphate (DAP) requirement. This renewed agreement serves as a testament to Ma’aden’s dedication to bolstering its role in the phosphate fertilizer market to address global needs.

In recent years, Ma’aden has made considerable strides in ramping up its production of sustainable and robust phosphate fertilizers. The company's ambitions are underpinned by plans to elevate its phosphate fertilizer production by an impressive 50%, reaching 9 million metric tons per annum (Mtpa) through its Phosphates 3 mega project. By forging strong alliances with key stakeholders, Ma’aden has embarked on a trajectory to enhance the global agricultural value chain, ensuring the delivery of top-tier fertilizers while actively contributing to global food security endeavors.

Reflecting on this momentous agreement, Eng. Hassan Al Ali, Executive Vice President of the Phosphate Business Unit at Ma’aden, expressed satisfaction in the ongoing collaboration with BADC. Al Ali stated, “We are delighted to continue our partnership with BADC, ensuring a steady supply of premium fertilizer products to meet the needs of the Bangladesh market. As we expand our operations, partnerships like these become pivotal drivers of sustainable growth in agricultural output, extending our impact to global agricultural markets despite the challenges posed by the worldwide economy. We are excited to extend our longstanding relationship with BADC and play an instrumental role in bolstering food security efforts within the region."

The contract's extension underscores Ma’aden's strategic positioning as a key player in the agricultural sector, committed to facilitating increased agricultural productivity and playing an integral part in global food security endeavors. This renewal signifies a pivotal milestone in Ma’aden's trajectory, cementing its position as a reliable partner in supporting Bangladesh's agricultural aspirations and the broader global demand for quality fertilizers.

About Ma’aden: Ma’aden, a Saudi state-owned mining company based in Riyadh, is the Middle East's largest multi-commodity mining and metals entity. Established on March 23, 1997, as a Saudi joint stock company, Ma’aden aims to foster the growth of Saudi Arabia's mineral resources and has swiftly emerged as one of the world's rapidly advancing mining enterprises.