DUBAI Jan 21 Saudi Arabian Mining Co
(Ma'aden), the Gulf's largest miner, slumped to a fourth-quarter
net loss as the firm was hit by lower prices for its
petrochemical products and gold and lower sales of the precious
The company reported on Tuesday a net loss of 29.2 million
riyals ($7.8 million) in the three months to Dec. 31, compared
with a net profit of 405.5 million riyals in the corresponding
period of 2012, according to a bourse filing.
Aljazeera Capital had forecast Ma'aden would record a net
profit of 90 million riyals in the fourth quarter.
Ma'aden's full-year 2013 net profit jumped 54.2 percent to
1.68 billion riyals, boosted by a significant one-off gain in
its third-quarter earnings.
($1 = 3.7504 Saudi riyals)
(Reporting by David French; Editing by Mark Potter)