1. Mining in the Arab World - Ma’aden and the Kingdom of Saudi Arabia
Dr. Hany Dabbagh
Vice President SBU Precious Metals and Exploration
Melbourne, 5th May 2011
Underground at Mahd Ad Dahab Mine, Saudi Arabia

2. The Arab World ARAB WORLD 9 % world land area 5% world population
4% world GDP
AUSTRALIA
5 % world land area
0.3% world population
1.3% world GDP 2

3. North Africa and Arabian Peninsula3

4. Arabian-Nubian Shield
Arabian Shield Area: 575,000km²
1,000 ancient copper and gold mines
Wide variety of mineral systems
8,000 occurrences, many not subject to systematic exploration
Very low historical exploration spend
Canadian and Australian Shields are of a similar age and nature and host a multitude of economic deposits
Ma’aden is expanding its exploration to cover Precious and Base Metals, Uranium, Iron Ore and REEs

5. Non-Petroleum Minerals and Metals in KSA
Source: MODS Database (2010) 5

6. Political Risk
Source: Office National Du Ducroire (April, 2011), Country Risks Summary Table

7. Exploration & Development
Trade and Investment Opportunities in the Arab World Mining Industry for Australia
Exploration & Development
Alliances, Joint Ventures, …
Mining Services
Contract Drilling, Skilled Manpower, O&M, …
Engineering and Construction
Environmental, Project Management, Engineering Design, EPC, …
Education
English Language Training, Trade and Technical, Staffing Local Colleges, …

8. Evolution of Ma’aden 1997~1999 2000~2002 2003~2006 2007~2008 2009~2011
Beginning
Gold Development
Mining Law & Railway
Capitalization
Expansion & Growth
1997
Established
2000
Al Hajar Gold Mine commissioned
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 & SEC
Today
Phosphate Project commissioning
Aluminium Project
under construction
2002
Bulgah Gold Mine Opened
4/28/2017

9. “A World Class Minerals Enterprise”
Gold and Base Metals
Phosphate
5 Gold operating mines
150 K Oz average annual production
1.2 m Oz reserves JORC compliant
Over 10 m Oz resources JORC compliant
3 m tonnes pa of DAP per year
1.5 m tonnes pa phosphoric acid,
4.5 m tonnes pa sulfuric acid
1.1 m tonnes pa ammonia (0.4 is excess am.)
Aluminum
Industrial Minerals
Mine: 4 m tonne pa of bauxite
Refinery :1.8 m tonne pa alumina
Smelter :740 k tonne pa aluminium
Rolling mill: 460 k tonne pa
Magnesite: commissioning mine at Zarghat
Magnesite calcination plant in Madinah
Industrial Grade Bauxite mine at Az Zabirah
Kaolin: mine at Az Zabirah

10. Ma’aden Phosphate Company
2007: Ma’aden and SABIC signed joint venture agreement to form Ma’aden Phosphate company, MPC. 2008: MPC was registered.
SABIC have 30% equity share with 70% balance of ownership retained by Ma’aden. The phosphate project is USD5.5 Billion investment. 10

11. Phosphate Joint Venture and Projects
Ma’aden Phosphate
70%
30%
100%
Ma’aden Phosphate Company
Al Khabra Project
Starting commercial production in 3rd Q ‘11
Under Feasibility Study 11

12. Phosphate Resources Inferred Resources (as per SGS):
Al – Jalamid …. 4,120 MMT
Umm’wual …. 3,570 MMT
Mining Licenses:
Al Jalamid : sq KM
Measured Resource : 534 MMT
Al Khabra - Umm Wu’al:38 sq KM
Measured Resource : MMT
Exploration License:
Al Jalamid : : 2,480 sq. KM
Indicated Resource :1 270 MMT
Umm Wu’al: 1,699 sq. KM
Indicated Resource : 450 MMT
Umm’Wu’al
AL Jalamid 12

13. Aluminum Project Profile
The largest and most efficient vertically integrated aluminum complex in the world
Bauxite Mine
Refinery
Smelter
Rolling Mill
Al Ba’itha mine
4 M tonnes annually
North-South railway to transport bauxite
Operational 2014
Located at Ras Az Zawr
First Alumina Refinery in GCC
1.8 M tonnes annually
Designed for expansion
Operational 2014
Co-located with Refinery at Ras Az Zawr
740 KM tonnes annually
Designed for expansion
Ingots, billets, T-bar and slabs for Rolling Mill
Operational 2013
Co-located with Smelter at Ras Az Zawr
460 K tonnes annually
Designed for expansion
Can, Auto, Foil & Constructions Applications
Operational 2013
4/28/2017

14. Aluminum Project Progress
June The JV breaks ground
Oct The project pours first concrete
Feb 2011 – Foundation work
4/28/2017

15. Kaolin and Industrial Grade Bauxite
Industrial Minerals
Magnesite
Kaolin and Industrial Grade Bauxite
Operating Mine at Zarghat
Commissioning process plant at Madinah
Products include:
Caustic Calcined Magnesia
Dead Burned Magnesia
Mine at Az Zabirah, started 2008
Bauxite source of high alumina materials for cement industry
Kaolin for ceramics
Potential for expansion into
downstream engineered Kaolin products
Industrial Minerals Exploration
Developing deposits
Expanding the mineral portfolio
Magnesite Processing Plant, Madinah 15

16. Under-investment in Saudi Arabia and Arab World is not sustainable in the long term
Under-explored geology and untapped resource potential
Competitive energy supplies
Access to modern technology
Proximity to markets in Europe, Middle East and Indian sub-continent
Modern mining and investment codes