The Saudi Public Investment Fund replaced its representatives on the board of Saudi Arabian Mining Co. and named Aramco’s Khalid Al-Falih as chairman. Al-Falih, who is also Aramco chairman and the country’s health minister, was among four new board members named by the PIF, along with prominent Saudi businesswoman Lubna Al Olayan, the mining company, also known as Maaden, said in a statement to the local bourse. The decision is part of the government’s “aspiration to promote further investments in the kingdom’s mining sector,” the company said. The appointments require shareholder approval.
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