Riyadh - Sharikat Mubasher: Almasane Alkobra Mining Company (AMAK) announced the launch of its new subsidiary, Advance Drilling Company, a simplified joint-stock company specializing in drilling, exploration, and related support services.
With an issued capital of SAR 40 million and an authorized capital of SAR 100 million, the Najran-headquartered Advance Drilling 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 company announced in a recent statement.
This milestone reinforces AMAK’s growth strategy that focuses on strengthening its capabilities across the mining value chain, enhancing control over exploration timelines, and improving the efficiency of converting resources into production.
Advance Drilling Company will implement industry-leading standards in drilling operations, ensuring efficiency, safety, and consistency in execution, while supporting the Company’s broader exploration objectives.
Geoff Day, Chief Executive Officer of AMAK, commented: “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.”
The launch of Advance Drilling Company represents a pivotal strategic step aligned with 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.
