Al Masane Al Kobra Mining Company (AMAK) has established a new wholly owned subsidiary named Advance Drilling Co to accelerate its exploration activities in the Saudi mining sector. The simplified joint stock company is headquartered in the Najran region with an authorized capital of SAR 100 million.
Establishment of Advance Drilling Co
The newly formed entity has a paid-up capital of SAR 40 million. It will focus on supporting AMAK’s internal exploration programs while offering professional drilling services to other local and international mining firms operating within the Kingdom.
Strategic Objectives and Services
The launch of the subsidiary aligns with AMAK’s growth strategy introduced in September 2024. This strategy focuses on strengthening capabilities across the mining value chain, improving control over exploration timelines, and converting resources into production.
By establishing this in-house capability, the parent company aims to improve operational efficiency and flexibility. Meanwhile, the subsidiary will operate as an independent service provider for the broader Saudi Arabian mining market.
Alignment with Saudi Vision 2030
This strategic expansion supports Saudi Vision 2030, which designates the mining sector as the third pillar of the national industrial base. The establishment of Advance Drilling Co addresses the growing demand for specialized drilling services in the local market.
“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.”
Geoff Day, CEO of AMAK
Future Operational Outlook
The subsidiary will utilize AMAK’s operational track record to implement safety and efficiency standards in its drilling operations. This development supports AMAK’s initiatives to expand its resource base and develop new mines, while enhancing operational performance across its portfolio.
Furthermore, the initiative contributes to the development of an integrated national mining sector. The company will offer its services to any external organization requiring professional exploration drilling services in the region, thereby supporting broader economic diversification.
