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Saudi Arabian Mining Co. declines as net profit dips quarter-on-quarter

The Tadawul market closed 0.3% lower at 6,118.62 points. Shares of Saudi Arabian Mining Co., also known as Ma'aden, fell 1.80% to SR24.55. Earlier in the day, Ma'aden reported net income attributable to the shareholders of the parent company, for the third quarter ended 30 September 2011 amounted to SR27.4m compared to the actual net loss for the same quarter of 2010 amounted to SR0.2m, and compared to the actual net income for the second quarter 2011 of SR62.5m representing a decrease of 56%. "