Saudi Arabian Mining Company (Ma’aden), one of the fastest-growing mining companies in the world, has signed four MoUs in a move aimed at doubling its phosphate products and ammonia exports to the Asian economic major next year.

The deal was signed in the presence of Bandar Alkhorayef, Saudi Arabia’s Minister of Industry and Mineral Resources, Dr Mansukh Mandaviya, India’s Minister of Chemicals and Fertilizers, and Robert Wilt, CEO of Ma’aden. Maaden said it is aimed at doubling the phosphate products and ammonia exports to India starting in 2023, with plans to explore product and technology development collaboration for phosphate fertilizers.

The MoUs include:

 • An agreement with the Indian Potash Company Limited to supply phosphate products.

• An agreement to supply ammonia to Gujarat State Fertilizers & Chemicals Limited.

• Two agreements, with Krishak Bharati Cooperative Company and Coromandel International respectively, to supply phosphate products and ammonia, explore collaboration in multiple growth areas and to pursue joint development of technology for specialty products, product development, agronomy and logistics solutions.

 On the deals, Wilt said: “India is the largest import market for phosphate and ammonia in the world, with steadily increasing demand. Due to the close geographical proximity between our nations, Ma’aden is a natural partner for the Indian market.”

Wilt pointed out that as a leading global phosphate fertilizer producer and the largest phosphate fertilizer supplier to India, the country is an important market for Ma’aden.