November 25, 2014 6:41 PM ET

Metals and Mining

Company Overview of Al Masane Al Kobra Mining Co.

Company Overview

Al Masane Al Kobra Mining Co. engages in the exploration, exploitation, and operation of mines. It produces copper, gold, silver, and zinc. Al Masane Al Kobra Mining Co. is based in Jeddah, Saudi Arabia.

P.O. Box 55696

Jeddah,  21544

Saudi Arabia

Phone:

966 2 2560 210

Fax:

966 2 2560 410

Key Executives for Al Masane Al Kobra Mining Co.

Managing Director and Director
General Manager
Compensation as of Fiscal Year 2014.

Al Masane Al Kobra Mining Co. Key Developments

Arabian American Development Co. Announces Al Masane Al Kobra Mining Company Receives Additional Funding from Saudi Industrial Development Fund

Arabian American Development Co. announced that Al Masane Al Kobra Mining Company received additional funds from the Saudi Industrial Development Fund under the original loan agreement dated September 1, 2010. The sum of SAR 138,000,000 (USD 38 million) was received by AMAK on December 30, 2013. This is the second disbursement on the SIDF loan, increasing the total amount loaned to SAR 279,808,000 (USD 74.5 million). The first draw on the loan was funded in the first quarter of 2011. Funds remain available under the loan agreement; however, AMAK does not foresee the need for additional working capital. AMAK has requested that the commencement of the repayment schedule be deferred one year to February 14, 2015, due to the length of time entailed to receive the second loan disbursement. Dividend payments from the mine cannot begin until scheduled loan repayments have been initiated and cannot exceed the amount of loan repayment in any one year.

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