DUBAI: Saudi Arabian Mining Co. (Maaden) said a subsidiary had started commercial production at a new bauxite mine and alumina refinery which could begin exporting some of its output in coming months.
Production will reach maximum annual capacity of 1.8 million tons of alumina by early 2017, meeting Maaden's domestic requirement of 1.4 million tons for its smelter and allowing the surplus to be sold elsewhere in the region and internationally, the company said.
The subsidiary is 74.9 percent owned by Maaden and 25.1 percent owned by US firm Alcoa. The Saudi company said earnings from the venture would begin to have an impact on its results in the fourth quarter of this year.
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Maaden starts production at alumina refinery
Maaden starts production at alumina refinery
Egypt-born Dina Powell McCormick appointed Meta president and vice chairman
- The former Goldman Sachs partner and White House official previously served on Meta’s board of directors
- Powell McCormick, who was born in Cairo and moved to the US as a child, joins the management team and will help guide overall strategy and execution
LONDON: Meta has appointed Egypt-born Dina Powell McCormick as its new president and vice chairman.
The company said on Monday that the former Goldman Sachs partner and White House official, who previously served on Meta’s board of directors, is stepping up into a senior leadership role as the company accelerates its push into artificial intelligence and global infrastructure.
Powell McCormick, who was born in Cairo and moved to the US as a young girl, will join the management team and help guide its overall strategy and execution. She will work closely with Meta’s Compute and infrastructure teams, the company said, overseeing multi-billion-dollar investments in data centers, energy systems and global connectivity, while building new strategic capital partnerships.
“Dina’s experience at the highest levels of global finance, combined with her deep relationships around the world, makes her uniquely suited to help Meta manage this next phase of growth as the company’s president and vice chairman,” Meta founder and CEO Mark Zuckerberg said.
Powell McCormick has more than 25 years of experience in finance, national security and economic development. She spent 16 years as a partner at Goldman Sachs in senior leadership roles, and served two US presidents, including stints as deputy national security adviser to Donald Trump, and a senior State Department official under George W. Bush.
Most recently, she was vice chair and president of global client services at merchant bank BDT & MSD Partners.
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