Riyadh, October 20, 2022, SPA -- The Saudi Arabian Mining Company (Ma’aden), the largest multi-commodity mining and metals company in the Middle East, has signed an agreement with King Fahd University of Petroleum & Minerals (KFUPM) to collaborate on the research and development of mining technology. The signing ceremony was witnessed by Prince Abdulaziz bin Salman bin Abdulaziz, Minister of Energy and Chairman of the Board of Trustees of Fahd University of Petroleum & Minerals, where it was signed between Abdulaziz Al-Harbi, Deputy CEO of Ma’aden, and Dr. Muhammad Al-Saggaf, President of KFUPM. The agreement will facilitate collaboration on scientific and technical research, establish joint research programs to develop technology solutions and harness research and development expertise within a governed framework. KFUPM has 16 research centers based in Dhahran, Saudi Arabia, and spanning multiple disciplines such as research in engineering, hydrogen, renewable energy, intelligent manufacturing and robotics, and more. R&D, technology and digital transformation are essential for the advancement of the mining industry and are critical to deliver Ma’aden’s long-term growth strategy. Ma’aden will leverage KFUPM’s research capacity to produce viable technology solutions that can be rapidly adopted by the market. The two parties have also agreed to work together to facilitate the development of entrepreneurial businesses. Through its partnership with leading local and international entities and institutions, Ma'aden will pursue to enhance its capabilities to advance the mining industry in the Kingdom. --SPA 20:29 LOCAL TIME 17:29 GMT 0028 www.spa.gov.sa/w1800854