“United Mining” receives a letter from “Marafiq” amending gas prices

United Mining Industries Company received a letter from the Jubail and Yanbu Electricity and Water Utilities Company dated 01/02/2025 AD regarding amending the prices of gas used in production operations as of 01/01/2025 AD.
According to the company’s statement on the Saudi Tadawul, this came based on the notice sent to the company from the Saudi Arabian Oil Company (Aramco) regarding an increase in gas prices.
The company explained that this amendment will have a financial impact that will be reflected in an increase in production costs, which will appear in the financial results for the first quarter of the year 2025. The company is currently working on calculating the expected financial impact and it will be announced as soon as the calculation is completed.
It noted that it will make every effort during the coming period to discuss and study ways to mitigate the financial impact resulting from this amendment in order to enable the company to achieve its goals.