APC, AMC sign MoU to launch future mining partnerships, projects
The Arab Potash Company (APC) and the Arab Mining Company (AMC) on Wednesday signed a memorandum of understanding (MoU) in Riyadh to launch joint future partnerships and investments between the two companies.
The memo was signed by AMC Chairman, Shehada Abu Hudaib, and AMC Head , Mohammad Shehhi.
The MoU came on the sidelines of the second edition of the International Mining Conference, which was launched today at the King Abdulaziz International Conference Center in Riyadh under the theme : ' 'Towards the Establishment of Reliable and Flexible Mineral Supply Chains in Africa and West and Central Asia.'
The event is attended by more than 6, 000 participants from 79 countries, investment leaders, heads of major mining companies, experts and technical specialists in this field.
According to the MoU, the two companies will discuss the possibility of establishing an ammonia plant and launching partnerships in the field of specialized fertilizer industry projects that would 'positively' affect food security in the Arab world, find investment opportunities between the two companies in mining industries projects.
Speaking at the signing ceremony, Abu Hudaib expressed pride in signing the MoU with AMC, which owns approximately 20% of the APC's capital, indicating that this memo will contribute to strengthening cooperation relations between the two companies and finding common ground in key areas that achieve mutual benefit.
He reviewed the APC's strategic plans to increase its competitiveness in global markets and consolidate its 'advanced' position as a 'major' player in supporting the national economy and achieving its objectives and its shareholders and investors.
He noted APC supplies various markets on different continents with approximately 2.6 million tonnes annually of potash, which enjoys 'strategic' importance due to its connection to international food security.
For his part, Shehhi stressed the MoU's importance to strengthen joint work and cooperation relations by examining the possibility of establishing 'feasible' projects that would benefit the two companies and their shareholders.
He pointed to the high and long-term added value achieved by Arab Mining Company (AMC) as a result of its investment in about 20% of the APC's capital, indicating that AMC is looking for more opportunities to increase its investments in Jordan, which is characterized by its 'safe and attractive' investor environment.
Meanwhile, APC CEO, Maen Nsour, touched on the 'positive and historic' outcomes achieved by APC over the past few years despite the financial, economic, health and geopolitical crises that the world witnessed.
He also referred to the key and capital projects that APC is implementing to ensure continuity of its productive operations, primarily projects to expand production of potash of all kinds and colors, high added value fertilizer industries projects, in addition to enterprises to maintain production according to the highest factory-based levels and ventures to reduce operational production costs.
Arab Potash Company seeks to double the production quantities by carrying out expansion projects to meet the expected growth in global consumption of this strategic substance, he said.
The company, he noted, is also studying feasibility of producing green or traditional ammonia to increase capability of Jordan's mining sector to find new opportunities and industries in this field.
The Arab Potash Company (APC) and the Arab Mining Company (AMC) on Wednesday signed a memorandum of understanding (MoU) in Riyadh to launch joint future partnerships and investments between the two companies.
The memo was signed by AMC Chairman, Shehada Abu Hudaib, and AMC Head , Mohammad Shehhi.
The MoU came on the sidelines of the second edition of the International Mining Conference, which was launched today at the King Abdulaziz International Conference Center in Riyadh under the theme : ' 'Towards the Establishment of Reliable and Flexible Mineral Supply Chains in Africa and West and Central Asia.'
The event is attended by more than 6, 000 participants from 79 countries, investment leaders, heads of major mining companies, experts and technical specialists in this field.
According to the MoU, the two companies will discuss the possibility of establishing an ammonia plant and launching partnerships in the field of specialized fertilizer industry projects that would 'positively' affect food security in the Arab world, find investment opportunities between the two companies in mining industries projects.
Speaking at the signing ceremony, Abu Hudaib expressed pride in signing the MoU with AMC, which owns approximately 20% of the APC's capital, indicating that this memo will contribute to strengthening cooperation relations between the two companies and finding common ground in key areas that achieve mutual benefit.
He reviewed the APC's strategic plans to increase its competitiveness in global markets and consolidate its 'advanced' position as a 'major' player in supporting the national economy and achieving its objectives and its shareholders and investors.
He noted APC supplies various markets on different continents with approximately 2.6 million tonnes annually of potash, which enjoys 'strategic' importance due to its connection to international food security.
For his part, Shehhi stressed the MoU's importance to strengthen joint work and cooperation relations by examining the possibility of establishing 'feasible' projects that would benefit the two companies and their shareholders.
He pointed to the high and long-term added value achieved by Arab Mining Company (AMC) as a result of its investment in about 20% of the APC's capital, indicating that AMC is looking for more opportunities to increase its investments in Jordan, which is characterized by its 'safe and attractive' investor environment.
Meanwhile, APC CEO, Maen Nsour, touched on the 'positive and historic' outcomes achieved by APC over the past few years despite the financial, economic, health and geopolitical crises that the world witnessed.
He also referred to the key and capital projects that APC is implementing to ensure continuity of its productive operations, primarily projects to expand production of potash of all kinds and colors, high added value fertilizer industries projects, in addition to enterprises to maintain production according to the highest factory-based levels and ventures to reduce operational production costs.
Arab Potash Company seeks to double the production quantities by carrying out expansion projects to meet the expected growth in global consumption of this strategic substance, he said.
The company, he noted, is also studying feasibility of producing green or traditional ammonia to increase capability of Jordan's mining sector to find new opportunities and industries in this field.
The Arab Potash Company (APC) and the Arab Mining Company (AMC) on Wednesday signed a memorandum of understanding (MoU) in Riyadh to launch joint future partnerships and investments between the two companies.
The memo was signed by AMC Chairman, Shehada Abu Hudaib, and AMC Head , Mohammad Shehhi.
The MoU came on the sidelines of the second edition of the International Mining Conference, which was launched today at the King Abdulaziz International Conference Center in Riyadh under the theme : ' 'Towards the Establishment of Reliable and Flexible Mineral Supply Chains in Africa and West and Central Asia.'
The event is attended by more than 6, 000 participants from 79 countries, investment leaders, heads of major mining companies, experts and technical specialists in this field.
According to the MoU, the two companies will discuss the possibility of establishing an ammonia plant and launching partnerships in the field of specialized fertilizer industry projects that would 'positively' affect food security in the Arab world, find investment opportunities between the two companies in mining industries projects.
Speaking at the signing ceremony, Abu Hudaib expressed pride in signing the MoU with AMC, which owns approximately 20% of the APC's capital, indicating that this memo will contribute to strengthening cooperation relations between the two companies and finding common ground in key areas that achieve mutual benefit.
He reviewed the APC's strategic plans to increase its competitiveness in global markets and consolidate its 'advanced' position as a 'major' player in supporting the national economy and achieving its objectives and its shareholders and investors.
He noted APC supplies various markets on different continents with approximately 2.6 million tonnes annually of potash, which enjoys 'strategic' importance due to its connection to international food security.
For his part, Shehhi stressed the MoU's importance to strengthen joint work and cooperation relations by examining the possibility of establishing 'feasible' projects that would benefit the two companies and their shareholders.
He pointed to the high and long-term added value achieved by Arab Mining Company (AMC) as a result of its investment in about 20% of the APC's capital, indicating that AMC is looking for more opportunities to increase its investments in Jordan, which is characterized by its 'safe and attractive' investor environment.
Meanwhile, APC CEO, Maen Nsour, touched on the 'positive and historic' outcomes achieved by APC over the past few years despite the financial, economic, health and geopolitical crises that the world witnessed.
He also referred to the key and capital projects that APC is implementing to ensure continuity of its productive operations, primarily projects to expand production of potash of all kinds and colors, high added value fertilizer industries projects, in addition to enterprises to maintain production according to the highest factory-based levels and ventures to reduce operational production costs.
Arab Potash Company seeks to double the production quantities by carrying out expansion projects to meet the expected growth in global consumption of this strategic substance, he said.
The company, he noted, is also studying feasibility of producing green or traditional ammonia to increase capability of Jordan's mining sector to find new opportunities and industries in this field.
comments
APC, AMC sign MoU to launch future mining partnerships, projects
comments