RIYADH: Saudi Arabian Mining Co., known as Ma’aden, saw its share price soar by 5.45 percent at the closing bell on Tuesday.

Shares of the mining company increased to SR60 ($16), up from SR56.90 the previous day.

This follows Ma’aden’s announcement that it has begun commercial production for its Ammonia 3 plant within the third phosphate project, which can produce 1.1 million tons of ammonia per year.