RIYADH: According to its CEO Robert Wilt, Saudi mining firm Ma’aden aims to grow its earnings before interest and tax 10 times by 2040.
“If you look at what Ma’aden wants to do over the next 18 years, by 2040, we want to grow our EBIT 10 times,” he said in a video entitled PIF Global Insights.
In his speech where he talked about how the metals and mining company is striving to become a role model for Environmental, Social, and Governance in Saudi Arabia with its sustainable business strategy, Wilt explained how Ma’aden will make this happen.
“We’ve got several strategic pillars to get there, but one of them is ESG leadership,” he said.
Ma’aden is going to unearth the potentials of the Kingdom and find the minerals and metals that are required to decarbonize the world, so as to be carbon neutral by 2050, he said.
Wilt added that Ma’aden will do these through a plan that makes sense for the future and a sustainable business model.
“We’ve got to do it in a way that makes sense for the future, and that’s where another aspect of our ESG leadership has to come in,” Wilt said.
Ma’aden has set strategic pillars for these plans, mainly ESG, and the Kingdom is moving at a fast pace and wants to take a leadership role in the world, according to its top official.
Wilt added that the company will develop capabilities and build its infrastructure in emerging markets.
There is a great opportunity for business leaders in metals and mining, according to Wilt. Ma’aden is striving to become the role model for ESG in Saudi Arabia with its sustainable business strategy, he concluded.