Taqat Mineral Clarifies Alfanar Scrap Contract Terms
Riyadh, Saudi Arabia — Taqat Mineral Trading Company has clarified details of its scrap iron purchase contract with Alfanar Company, confirming the deal was signed on October 22, 2026. The contract carries no fixed total value. Instead, pricing is set at 1,716 SAR per ton, with the final contract value determined by actual quantities supplied […] The post Taqat Mineral Clarifies Alfanar Scrap…
Riyadh, Saudi Arabia — Taqat Mineral Trading Company has revealed specifics about its contract to purchase scrap iron from Alfanar Company, which was signed on October 22, 2026. The contract does not have a predetermined total value; instead, its price is set at 1,716 SAR per ton, with the final value determined by the actual amount of material delivered over the contract period.
Taqat Mineral revealed the deal on October 29, 2026, on the Saudi Exchange (Tadawul), correcting the signing date to be one week earlier than initially announced. The agreement pertains solely to the purchase of heavy and light scrap iron, as well as empty metal drums, with no involvement of related parties, thereby minimizing potential conflicts of interest.
Investors will not be able to determine the contract's total value without knowing the quantity of material Alfanar will supply. The positive effect on Taqat Mineral's revenue is expected to start in Q4 2026 and continue into Q1 2027.
Written by urgent.news from The Saudi Standard's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
