Glossary of terms

Arabian Shield: an exposure of Precambrian crystalline rocks on the flanks of the Red Sea.

Bauxite: the most common ore of aluminium.

Beneficiation: (occasionally spelled ‘benefication’) a variety of processes
whereby extracted ore from mining is separated into mineral and gangue, or
waste material, the former suitable for further processing or direct use.

Brownfield exploration: also known as near-mine exploration, the term is used to describe exploration occuring in the proximity of operating mines and identified ore bodies.

Direct employment: employment directly related to the production of products or services or when a person is employed directly by a firm, rather than a contractor working for the firm.

Downstream: refers to a stage in the industry value chain. For example,
with reference to our aluminium value chain, downstream refers to the production plants that make the end products, where as the mine itself is ‘upstream’

EBITDA: earnings before interest, taxes, depreciation, and amoritization.

EHSS: environment, health, safety and security.

ETGAN: Ma’aden’s in-house training and behavioral initiative addressing
engagement, talent, growth, ability, and nurturing aimed at helping Ma’aden become a world class mining enterprise.

Greenfields exploration: refers to exploration activities undertaken in unexplored or incompletely explored areas. The objective is to discover new mineral deposits in new areas distant from existing mines and advanced projects.

GRI: an independent international organization whose sustainability reporting standards are widely adopted by governments, businesses and other organizations.

Handprint: a concept and tool increasingly used in sustainability programs and discussions to measure, evaluate and communicate the positive contributions and impact of businesses, organizations and individuals.

Indirect employment: when a business generates employment in other organizations to supply or produce goods and services or when a firm contracts some work to a person or a company.

Inorganic growth: growth achieved through mergers, acquisitions or takeovers as against organic growth achieved through a company’s existing business.

IR: Incident Rate is a comprehensive metric that calculates all recordable injuries

JORC Code: The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves is professional code of practice that minimum standards for public reporting of mineral exploration results, mineral resources and ore reserves established by the Joint Ore Reserves Committee.

Ma’aden Academy: Ma’aden’s learning and development organization managed by corporate Human Resources.

NTP: National Transformation Program, a government program aimed at building the institutional capacity and capabilities needed to achieve Saudi Arabia’s Vision 2030.

Refinery: an industrial facility where a substance is refined, usually to convert raw material into products of value.

Rolling mill: in metalworking, rolling is a metal forming process in which metal stock is passed through one or more pairs of rolls to reduce the thickness and to make the thickness uniform, typically to produce metal sheets

Saudi Vision 2030: The Kingdom of Saudi Arabia’s blueprint for long-term development to achieve a strong, thriving and stable country that provides opportunity for all.

SBU: Strategic Business Unit indicates how Ma’aden’s businesses are segmented.

SDGs: Sustainability Development Goals, also known as Global Goals, are a set of 17 aspirational goals adopted by the UN as part of its 2030 Agenda for Sustainable Development.

Smelting: a form of extractive metallurgy used to produce metal from ore; silver, iron, copper and other base metals are produced by smelting the ores.

SMP: Saudi Mining Polytechnic, established by Ma’aden in collaboration with the Technical and Vocational Training Corporation (TVTC) of Saudi Arabia to develop a skilled domestic workforce for the mining sector.

Sustainability: in business, sustainability often refers to triple bottomline management, with companies integrating financial, social and environmental risks, obligations and opportunities in the business plan.