Gulf Stone Company held its General Assembly meeting in Muscat
Gulf Stone Company held its Extraordinary General Assembly and Annual Ordinary General Assembly meetings on Thursday 19/3/2020 in Muscat, Sultanate of Oman.
Throughout the meeting, it was decided to amend the articles of association of the company in accordance with the requirements of the Commercial Companies Law.
New Investment Opportunities
Arab Mining Company continues its missions in searching for attractive investment opportunities across the Arab region, and in Arab countries with an attractive investment climate in particular.
The Company’s tasks are currently focused on engaging in attractive investment projects related to the mining sector and the associated industries, particularly projects that serve the interests of the companies Armico is currently contributing to, such as exploitation projects of fluorite ore and minerals which have become global projects.
Strategic Investments
A summary of the Company's contributions in existing companies
Investment Portfolio
The investment portfolio at ARMICO compromises of several asset classes such as currencies, term deposits, certificate of deposits (CDs), bonds, sukuk and equity stock shares in major domestic and international mining, petrochemicals, and fertilizers stocks.
Armico’s Investment Activities
Since its establishment, Arab Mining Company has been engaged in many investment activities, including 24 mining, industrial and commercial investing projects in more than ten Arab countries. The amount of money invested in such projects has increased to more than (314) million Kuwaiti Dinars.
During the first period, since the establishment of the Company and until 1986, most of the Company’s investment projects gave priority to development considerations located in Arab countries which have promising metal ores and the lack of funding resources for exploitation.
Arab Mining Company - Fujariah
Mining Arab company – Fujairah was established in 2018 as a limited liability company with a total capital of 300 thousand Emirati dirhams and it is fully owned by Arab Mining Company.
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Contact Information:
- Main office: Fujairah - UAE
- Website: https://www.armico-fjr.com/
Société Nationale Industrielle et Minière
Société Nationale Industrielle ET Minière was founded in 1978, and it is first producer of iron ore concentrates in Africa. The Company extracts iron ore mines and concentrations, in addition to developing mineral resources; through exploration, exploitation and trade.
The Company's Products and Production Capacity:
- Iron ore concentration, 12 million tons/ year
To view the Company’s Gallery, click here.
Contact Information
- Main office: Nouadhibou-Islamic Republic of Mauritania
- Website: www.snim.com
Arab Company for Detergent Chemicals
ARADET is a Pan-Arab Company, a limited liability company, with its head office located in Baghdad - Iraq.
The Company was founded for the purpose of developing the detergent chemical industry in the Arab world; therefore a Linear Alkyl Benzene (LAB) was established with a production capacity of 50,000 tons per year, starting in 1987.
The Company's products and production capacity:
- Linear Alkyl Benzene 50,000 tons/ year
- Toluene 7000 tons/ year
Contact Information:
- Main Office: Al-Mansour Mahala 609.
Gulf Stone Company
Gulf Stone Company was established in 1999 by a group of leading institutions and businessmen from the Sultanate of Oman and Arab Gulf states. With a ratio of 25% a contribution was made into the Gulf Stone Company in 2004.
The Company started with an authorized capital of 4 million Omani Riyals, 2 millions were subscribed and paid-up with a nominal value of one Omani Riyal per share.
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Contact Information:
- Main office: Sohar\ Oman
- Website: www.gulfstone-oman.com