As head of the region’s largest mining firm, Mudaifer is an important figure in efforts to diversify Saudi Arabia’s industrial base beyond oil refining and export. Ma’aden’s expansion plans include $16.8 billion worth of investments, and at the end of 2013 it secured funding for a $7 billion phosphate joint venture in the northern city of Waad al-Shimal. Elsewhere the company is working on a $10.8 billion joint venture with Alcoa, set for completion this year.