AMAK Board Approves Establishment of SAR 100 Million Drilling Company in Najran
Almasane Alkobra Mining Company (AMAK) announced that its Board of Directors has approved the establishment of a new wholly owned AMAK drilling company with a capital of SAR 100 million. This strategic move reflects the company’s commitment to strengthening exploration capabilities and supporting long-term mining sector development in Saudi Arabia.
Strategic AMAK Drilling Company Formation
The new company will be headquartered in Najran and established to accelerate exploration across AMAK’s growing portfolio of mining, exploration, and reconnaissance licenses. The facility will also provide drilling and related services to third-party operators, contributing to the expansion of a robust, locally based mining services ecosystem in the Kingdom.
The launch forms a key pillar of AMAK’s growth strategy and reflects the company’s focus on enhancing execution efficiency, reducing reliance on external service providers, and shortening the cycle from geological discovery to resource definition and development.
Enhanced Exploration Capabilities and Investment Scale
The establishment builds on strategic milestones announced by AMAK in September 2024. Over the past year, AMAK has significantly scaled up exploration activity, increasing its exploration budget by four to five times, with follow-up drilling programs in highly prospective areas, particularly in Najran, Riyadh, and Asir regions.
These developments have been complemented by the issuance of a 10-year mining license for the Khutainah Gold Mine in Najran, supporting AMAK’s strategy to extend the life of its resource base to 15–20 years and strengthen its pipeline of development-ready projects.
The establishment of a dedicated drilling company is a natural progression in AMAK’s evolution. As our exploration footprint continues to expand across the Kingdom, having in-house drilling capability enables faster execution, stronger cost control, and consistent safety and quality standards.
Geoffrey Day, Chief Executive Officer of AMAK
Vision 2030 Alignment and Regional Development
The drilling company will play a central role in supporting exploration across AMAK’s diversified portfolio of precious, base, and industrial minerals, while addressing growing demand for technically capable, locally anchored drilling services within the Saudi mining sector. This initiative aligns closely with Saudi Vision 2030, which positions mining as a strategic pillar of economic diversification and industrial growth.
By locating the new company in Najran, AMAK reinforces its long-standing commitment to regional operations, supporting local economic development, workforce participation, and the growth of specialized technical skills. The announcement follows AMAK’s participation at the Future Minerals Forum 2026 in Riyadh, where global mining leaders, policymakers, and investors convened to advance collaboration and investment across the minerals value chain.
