Ma’aden is the largest mining company in the Middle East. In April 2024, Ma’aden purchased Mosaic Phosphates B.V.’s shares in Ma’aden Wa’ad Al Shamal Phosphate Company, a joint venture between Ma’aden, Mosaic Phosphates B.V. and SABIC, which represents 25% of the company, in exchange for newly issued shares in Ma’aden. Saudi’s Public Investment Fund is the major shareholder in Ma’aden, with a 67.2% stake.