AMAK Launches Advance Drilling Co. with SAR 100 Million Capital to Accelerate Exploration and Support Mining Sector Growth
In a strategic step aimed at accelerating exploration activities, supporting the development of mining projects, and enhancing its role in the growth of the mining sector in the Kingdom, AMAK announced the establishment of “Advance Drilling,” a wholly owned simplified joint stock subsidiary of AMAK, with an authorized capital of SAR 100 million (SAR 40 million paid-up capital), headquartered in Najran.
The new company will focus on supporting and accelerating AMAK’s exploration activities and providing exploration drilling services to all local and international companies and institutions specialized in exploration and mining activities within the Kingdom.
The launch of Advance Drilling Co. reinforces AMAK’s growth strategy, introduced in Sep 2024, which focuses on strengthening its capabilities across the mining value chain, enhancing control over exploration timelines, and improving the efficiency of converting resources into production.
Leveraging AMAK’s extensive operational track record, Advance Drilling Co. will implement industry-leading standards in drilling operations, ensuring efficiency, safety, and consistency in execution, while supporting the Company’s broader exploration objectives.
AMAK views this move as a pivotal strategic step aligned with Saudi Vision 2030, which positions mining as the third pillar of the national industrial base. It reflects a proactive response to growing demand for specialized drilling services in the Saudi market, through the creation of an integrated operational platform that combines drilling and complementary services with greater efficiency and flexibility. The company is well positioned to become a trusted partner to mining companies and exploration-focused investors, contributing to the development of a more integrated national mining ecosystem.
Geoff Day, Chief Executive Officer of AMAK, said:
“Exploration is at the core of sustainable mining growth. By bringing drilling capabilities in-house, we gain flexibility, speed, and cost efficiency in executing our exploration programs. Advance Drilling Co. positions AMAK to unlock value from its resource base more effectively and supports our ambition to scale operations in line with our long-term strategy
While AMAK will be one of the customers using the services of Advance Drilling, the company will offer its services to any other company that requires professional exploration drilling services
This development underscores AMAK’s continued progress in advancing its growth initiatives, including expanding its resource base, developing new mines, and enhancing operational performance across its portfolio, while supporting the Kingdom’s broader economic diversification agenda.
