Saudi Arabian Mining Co., known as Maaden, appointed former Arcadium Lithium executive Gilberto Antoniazzi as chief financial officer, strengthening its leadership team as the kingdom pushes ahead with a multibillion-dollar expansion of its mining sector.
Antoniazzi will join as executive vice president and CFO effective March 1, the company said. He succeeds acting CFO Saulat Sultan.
Antoniazzi previously served as finance chief at Arcadium Lithium, one of the world’s largest lithium producers with operations spanning Argentina, China, Canada and Australia. The company was acquired last year by Rio Tinto.
Maaden’s appointment comes as Saudi Arabia accelerates efforts to position mining as part of efforts to diversify the kingdom’s economy. The company plans to invest $110 billion over the next decade to expand production, its chief executive said in January.
That strategy gained momentum after Maaden announced the discovery of an estimated 7.8 million ounces of gold across four areas in Saudi Arabia. The find is expected to support higher output and attract further international investment into the kingdom’s underexplored mineral reserves.
📌 Why it matters:
Bringing in a CFO with global lithium and cross-border operational experience signals Maaden’s ambition to compete more aggressively in critical minerals, including battery materials that are central to the energy transition.
