Saudi Ma'aden repairs phosphate rock unloading belt

30 December 2013 14:18  [Source: ICIS news]

KARACHI (ICIS)--The phosphate rock unloading belt of the Ma'aden Phosphate Company (MPC) at the Ras Al Khair facility, damaged in September, has been repaired and is back up and running, parent Saudi Arabian Mining Company (Ma'aden) said on Monday.

On September 20, a "limited fire" damaged the phosphate rock unloading belt at the east coast facility. No-one was injured in the fire, which was extinguished by company officials before it could spread to other parts of the plant.

“Ma'aden announces the completion of the repair works and the restart at the phosphate rock unloading belt as of December 29,” it said in a statement issued to the Saudi stock exchange.

“Due to Ma’aden’s business continuity planning and risk mitigations, the stoppage had no significant financial impact and did not affect Ma’aden’s ability to meet its obligations to its customers,” the company said.

MPC is a limited liability company, co-owned by Ma’aden with a 70% stake and Saudi Basic Industries Corporation (SABIC), which holds a 30% stake.

By: Aamir Ashraf

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