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-0.00047308930309151 -0.000811437981884789 -0.000523991316715272 -0.00427277490830145 0.00284452429074029 0.0105546822366943 0.00501534545998964 -0.000898270828654873
Stock impact report

Saudi mining giant Maaden outlines $110 billion investment plan [Yahoo! Finance]

MP Materials Corp. (MP) 
Company Research Source: Yahoo! Finance
gold as it looks to become one of the world's biggest commodity producers, its chief executive said in an interview. Maaden's investment plans will see the company triple its phosphate and gold business and double its aluminium business, Bob Wilt told Semafor. “We are deploying capital at an unprecedented pace,” he said. Maaden has “eight megaprojects on the books right now,” with two already underway and six others in various stages of planning. Also among those spending plans is a joint venture with MP Materials — of which the US government is a major shareholder — and the US Department of Defence to develop a rare earths refinery in Saudi Arabia in order to supply the defence industry, a project that was initially announced during Saudi Crown Prince Mohammed bin Salman's visit to Washington in November. Maaden is working on “very aggressive” timelines on that particular plan and will make a final investment decision by the end of the year, Wilt said. The refinery is expected Show less Read more
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