Saudi mining company AMAK has established Advance Drilling Co., a wholly owned simplified joint stock subsidiary, as part of efforts to accelerate exploration activities, support mining project development and strengthen its contribution to the Kingdom’s growing mining sector.
The new company has an authorized capital of approximately $26.7 million (SAR100 million), including $10.7 million (SAR40 million) in paid-up capital, and will be headquartered in Najran.
Advance Drilling Co. will focus on supporting and accelerating AMAK’s exploration activities while also providing exploration drilling services to local and international companies and institutions engaged in exploration and mining activities across Saudi Arabia.
The launch of the subsidiary supports AMAK’s growth strategy unveiled in September 2024, which aims to strengthen the company’s capabilities across the mining value chain, enhance control over exploration timelines and improve the efficiency of converting resources into production.
Drawing on AMAK’s operational experience, Advance Drilling Co. will implement industry-leading standards in drilling operations to enhance efficiency, safety and consistency in project execution, while supporting the company’s broader exploration objectives.
The establishment of the new company aligns with Saudi Vision 2030, which identifies mining as the third pillar of the Kingdom’s industrial base. The company said the move responds to increasing demand for specialized drilling services in the Saudi market through the creation of an integrated operational platform combining drilling and complementary services with greater efficiency and flexibility.
Geoff Day CEO – AMAK
“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”
Advance Drilling Co. is positioned to serve as a trusted partner for mining companies and exploration-focused investors, contributing to the development of a more integrated national mining ecosystem.
The development marks the latest step in AMAK’s growth plans, which include expanding its resource base, developing new mines and improving operational performance across its portfolio, while supporting Saudi Arabia’s broader economic diversification objectives.
