RIYADH: Saudi Arabian Mining Company (1211.SE), known as Ma'aden, on Thursday reported 2024 net profit up 82% year on year at 2.87 billion riyals ($765.2 million).

Chief Executive Bob Wilt attributed the results to "record production" and the company's second-highest full-year revenue.

Ma'aden, which operates in gold, aluminium and phosphates, is a key pillar in Saudi Arabia's plan to diversify its economy away from hydrocarbons and is looking to expand mining capabilities in those commodities. ($1 = 3.7509 riyals) (Reporting by Pesha Magid Editing by David Goodman)