BAGHDAD: Negotiations between Iraqi Prime Minister Haider Abadi and leaders of Shiite-dominated paramilitary troops to form an electoral alliance in the parliamentary and provincial election scheduled for May had not produced a final agreement on Friday, leaders involved in the talks told Arab News.
Gaining the support of the armed factions who fought Daesh alongside the government during the past three years is crucial for Abadi to gain a comfortable parliamentary majority to form the next government.
The negotiations, which started on Thursday, have been taking place in Baghdad between representatives of Abadi and leaders of the “Al-Fattah Alliance,” which includes the most powerful Shiite armed factions such as Badr Organization, Asaib Ahl Al-Haq, Kataib Huzballah and Jund Al-Imam in addition to the leaders of the Islamic Supreme Council of Iraq and the independents.
Abadi has been seeking to form the biggest electoral alliance along with “Al-Fattah,” which is headed by Hadi Al-Amiri, the commander of Badr Organization, while the leaders of the Popular Mobilization Units (PMU) have been looking for protection.
“An alliance with Abadi is in the interest of both parties (Abadi and the PMU),” a senior PMU commander said on condition of anonymity to Arab News.
“The prime minister is the only one who can threaten the existence of us (the PMU). Legally he (the prime minister) is authorized to go after any of us and represents a source of concern.
“If he will be with us, this means we will be protected,” the commander said.
The negotiation teams of both sides on Friday had agreed on several issues, but who will head the final coalition and who will lead the electoral list in Baghdad are topics “still under negotiation,” leaders involved in the talks told Arab News.
“We are looking to form the biggest bloc in the next parliament, so Abadi is the best choice to achieve this,” Yazin Al-Joubori, one of the PMU commanders, told Arab News.
“The problem is that Abadi insists on being the head of the (final) coalition and the leader of the electoral list in Baghdad while (Hadi) Al-Amiri insists on giving him just one of them,” Al-Joubori said.
The guarantees which Abadi has to present to the PMU leaders also was one of the biggest obstacles as his negotiation team insists on “not giving any promises or concessions.” By the end of Friday’s meetings, no final agreement was made, leaders involved in the talks said.
“Abadi is well aware that he has a very strong card now and knows that the PMU factions need him, so he is negotiating from a position of strength,” a Shiite politician involved in the talks told Arab News on condition of anonymity.
“In all cases, this alliance will be made, but (looks like) it will be according to Abadi’s conditions.
“We have presented so many concessions, while he has refused to give us anything (in return).
“There is no other strong alternative (than Abadi). We need him so we have to go with him,” the leader said.
Abadi seeks alliance with Popular Mobilization Units based on his terms
Abadi seeks alliance with Popular Mobilization Units based on his terms
Saudi Maaden reports 156% surge in annual net profit to $2bn on strong commodity prices and record production
RIYADH: Saudi mining and metals company Maaden has reported a 156 percent jump in its net profit attributable to shareholders for 2025, driven by higher commodity prices, record production volumes, and a one-off bargain purchase gain.
The state-backed giant posted a net profit of SR7.35 billion ($1.95 billion) for the full year 2025, an increase from SR2.87 billion in the previous year. The firm’s revenue surged by 19 percent to SR38.58 billion, up from SR32.55 billion in 2024.
This comes as Saudi Arabia steps up efforts to expand its mining sector as a pillar of economic diversification, encouraging international participation and private investment to unlock the Kingdom’s estimated $2.5 trillion in untapped mineral resources under Vision 2030.
In a statement on Tadawul, the company said: “Performance was led by record phosphate production, near record aluminum production, an increase in all three of Maaden’s main output commodity prices.”
The performance was also fueled by a 60 percent increase in gross profit, which reached SR14.79 billion. In its annual results announcement, Maaden attributed the top-line growth to “higher commodity market prices for phosphate, aluminum and gold business units,” as well as increased sales volumes in its phosphate and aluminum segments. This was partially offset by slightly lower sales volume in the gold unit.
Maaden’s CEO, Bob Wilt, hailed 2025 as a transformative year for the company, marked by strategic growth and operational excellence. “This was a great year for Maaden’s strategic growth. We delivered strong financial results and sustained operational excellence across the business,” he said in a statement.
“This was driven by growth in production across all businesses, including record-breaking DAP (di-ammonium phosphatevolumes), disciplined cost control across and a clear commitment to our role as a cornerstone of the Saudi economy,” Wilt added.
Profitability was further bolstered by an increased share of net profit from joint ventures and an associate. This included a one-off bargain purchase gain of SR768 million related to Maaden’s investment in Aluminium Bahrain B.S.C. The company also benefited from lower finance costs.
The fourth quarter of 2025 was strong, with Maaden swinging to a net profit of SR1.67 billion, compared to a loss of SR106 million in the same period of the prior year. Quarterly revenue rose 7 percent to SR10.64 billion.
The firm achieved record production of di-ammonium phosphate, reaching 6.72 million tonnes for the year, a 9 percent increase. Aluminum production remained near-record levels, while the company added a net 7.8 million ounces to its reportable gold mineral resources through discovery and resource development.
The phosphate division saw sales jump 17 percent to SR20.77 billion, with the earnings before interest, taxes, depreciation, and amortization margin expanding to 47 percent. The aluminum business reported a 9 percent increase in sales to SR10.99 billion, with EBITDA more than doubling in the fourth quarter.
Looking ahead, Wilt emphasized that the pace of growth will accelerate as the company advances key initiatives, including the Phosphate 3 Phase 1 and Ar Rjum projects, which remain on budget and schedule. Maaden has also secured a gas supply for its future Phosphate 4 project.
“This pace of growth will only accelerate. Not only as we advance projects and increase the scale of our exploration program, but as we continue to grow production and implement technology that will further modernize, streamline and unlock value,” Wilt added.
Earnings per share for the year rose sharply to SR1.91, up from SR0.78 in 2024. Total shareholders’ equity increased by 18.7 percent to SR61.59 billion.
