JEDDAH: Saudi Arabian Mining Co. (Maaden), the Gulf’s largest miner, posted a 83.5 percent fall in third-quarter net profit.

Maaden made a net profit of SR79.9 million ($21.3 million) in the three months to Sept. 30, versus SR485.4 million in the corresponding period of 2014, it said in a bourse statement.

Two analysts forecast the firm to make a quarterly profit between SR209 million and SR265 million.