Logo of Saudi Chemical Holding Co. (SCHC)
Saudi Chemical Holding Co. (SCHC), through an affiliated unit, Saudi Chemical Co. Limited, inked a memorandum of understanding (MoU) with Moxico Ajlan & Bros Mining Co. Khnaighuiyah to supply explosives and blasting-related services in Alkhunayqiyah mine, according to a statement to Tadawul.
The one-year MoU was sealed on Jan. 11 and the related financial impact will be determined later.
The MoU came as a promising step falling within the company’s commitment to promote the mining industry in Saudi Arabia, contribute to the success the mining and exploration operations and enhance the national economy, said Thamer Al-Muhid, Saudi Chemical CEO and MD.
“Our affiliated unit also seeks a successful partnership with Moxico Ajlan to bolster the mining industry across the Kingdom,” he noted.
The MoU included no related parties, the statement added.
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