Ma’aden, a mining company, agreed to acquire an additional 25% stake in Ma’aden Wa’ad Al Shamal Phosphate from Mosaic, a fertilizer company, for $1.5bn. “This is an important evolution that we believe will create significant benefits for the growth of our phosphate business. We look forward to working together with the Mosaic team to strengthen our phosphate business as we continue to build the mining sector into the third pillar of the Saudi economy," Bob Wilt, Ma’aden CEO.