AMAK’S EXPANDING HORIZON AND THE FUTURE OF MINERAL WEALTH
SUPPORTED BY
AMAK’S EXPANDING HORIZON AND THE FUTURE OF MINERAL WEALTH
There are moments in the evolution of an industry when ambition, resolve, and national momentum converge. Saudi Arabia’s mining sector is in precisely that phase, and few companies embody the seriousness and scale of this new era quite like AMAK. Under the leadership of CEO Geoff Day, the company has spent the last year expanding its operational footprint, accelerating exploration and hardwiring itself into the long-term goals of Vision 2030, while demonstrating the discipline and transparency expected from a fully listed public company on Tadawul.
What emerges is the portrait of a miner that is not content with incremental progress. AMAK is intent on reshaping the national mining landscape with a strategy that is rooted in long-life assets, disciplined growth and a relentless focus on discovery. Speaking with Geoff, it is clear that the milestones of the last year are not isolated achievements. They are deliberate steps in a wider journey to turn AMAK into a regional mining champion.
The recent commissioning of the Moyeath processing plant in late 2024 stands out as a defining moment. Bringing this
Amak CEO Geoff Day.
facility into production lifted AMAK’s base metals processing capacity from 800,000 tonnes per year to 1.3 million tonnes. In mining terms, this is not just an expansion of throughput. It is a structural shift that allows AMAK to grow production, optimise unit costs and sustain a more diversified blend of metals at scale.
In parallel, the company has delivered significant gains at its Guyan gold leach plant. By lifting throughput from an original design of 56 tonnes per hour to 72 tonnes at minimal capital cost, AMAK has quietly improved the economics and longevity of one of its key assets. When coupled with full mine output and typical ore grades, the numbers tell a compelling story. The company is positioned to produce between 25,000 and 35,000 tonnes of copper concentrate annually, 60,000 to 80,000 tonnes of zinc concentrate, 30,000 to 40,000 ounces of gold doré and approximately 550,000 ounces of silver.
For Geoff, these are not simply production statistics. They are proof points that the strategy is working.
“We are moving from being a strong operator to being a truly scalable mining business,” he explains. “The additional capacity at Moyeath and the performance uplift at Guyan give us the backbone we need to support our next phase of exploration and development.”
Today, AMAK holds three active mining leases, in addition to one industrial minerals mining lease under application. In addition, AMAK’s exploration portfolio that has grown substantially over the part three years to include 25 licenses, reflecting the company’s accelerated strategic expansion. Among its most advanced projects is the Khutainah mine, located only 6 km from AMAK’s existing Guyan operations, allowing the company to leverage established processing infrastructure and operational experience for greater efficiency.
While Khutainah is expected to begin operations as an open-pit mine in the first quarter of 2026, the company is also evaluating the underground potential at the site, mirroring the successful transition from open-pit to underground
Arminsol
Arabian Mining Solutions Trading Est. (Arminsol) is a leading supplier of mining and drilling solutions supporting the rapid transformation of Saudi Arabia’s mining sector under Vision 2030. As the Kingdom positions mining as the third pillar of its economy, Arminsol plays a key role by delivering advanced technologies, reliable products, and high-quality services to operations nationwide.
Arminsol is the official distributor for Aramine and Technidrill in Saudi Arabia, recognized for their world-class underground mining equipment and precision-engineered drilling and exploration tools.
Arminsol provides a complete portfolio of mining and drilling products, including wireline systems, RC, Conventional, Top Hammer and full exploration tooling. Arminsol also supplies heavy equipment spare parts, hydraulic components, filtration systems, OTR tires, and a full range of mining safety equipment and accessories. Through global partnerships and strong technical support, Arminsol continues to enhance operational performance across Saudi Arabia—moving confidently toward achieving the goals of Vision 2030.
www.arminsol.com.sa
AMAK
mining that has already taken place at AMAK’s Guyan gold mine. This approach underscores AMAK’s ambitious vision to maximize the value of its resources and enhance long-term sustainability.
Alongside Khutainah, the Nuham iron ore project represents another important milestone. Also expected to be in operation in early 2026, Nuham will supply iron ore feedstock for Saudi cement plants. Strategically, it brings a new commodity into AMAK’s portfolio and strengthens the company’s role in supporting the Kingdom’s industrial growth.
All of this is underpinned by a deliberate push into exploration. In 2025, AMAK expanded its exploration lease portfolio to cover more than 1,800 square kilometres, increasing its exploration budget approximately four-fold compared to 2024 expenditure. This is not the behaviour of a company content to mine down existing reserves. It is the move of a miner that understands its future will be written by the drill bit.
Geoff sees exploration as central to AMAK’s identity.
“Exploration is not a side activity for us; it is the core engine of our future growth. We want internally generated discoveries to feed our resource base and support 15 to 20 years of future production.”
In line with this vision, AMAK announced on 25 November 2025 a major multi-metal discovery in the Najran region, including Copper, Zinc, Gold, and Silver, within one of its highly prospective exploration licenses. This significant discovery marks a key milestone in the company’s exploration journey and reinforces its ability to generate high-quality, valueaccretive resources.
Since acquiring the license in September 2024, AMAK has carried out an intensive exploration program, rapidly advancing to a core-drilling campaign in February 2025, with over 28,000 meters drilled to date. Initial internal estimates indicate a potential resource exceeding 11 million
tons of Cu-Zn-Au-Ag ore, even though drilling has covered less than 10% of the license area, highlighting substantial upside potential. The company is also conducting extensive geophysical surveys to identify additional high-priority targets, supported by a planned 30,000-meter drilling program in 2026.
Following a comprehensive review of its license portfolio, AMAK has launched additional drilling at its most advanced targets, delivering promising results. The company plans to publish JORCcompliant resource estimates by mid2026, alongside ongoing concept and prefeasibility studies aimed at shortening the timeline from discovery to development and accelerating the transition of promising assets into production.
AMAK’s exploration strategy is built on a structured, disciplined approach: early-stage work such as historical data review, geological mapping, and surface sampling serves as the first filter. Only when results justify further investment does the company advance to geophysical surveys and deeper drilling. This phased methodology enables AMAK to focus resources on the most prospective targets while relinquishing lower-priority locations.
Crucially, the company is in a strong financial position to support this strategy. Solid operating cash flow, low debt and a capable technical team give AMAK room to pursue growth without compromising stability. Government policy further enhances this position. Saudi Arabia’s Exploration Enablement Program (EEP), of which AMAK was one of the inaugural successful recipients, reimburses between 20 and 60 percent of approved greenfield exploration costs on selected leases, providing a powerful incentive for companies willing to explore at scale.
This combination of self-funded growth, risk sharing through mechanisms like the EEP, and disciplined capital allocation means that exploration remains a growth driver rather than a burden on the balance sheet.
Unique Company Limited delivers delivers full-service catering, facilities and campmanagement with unwavering international standards — anywhere in the world. www.ucsglobal.co.uk
MINING-TUNNELING-EXPLORATION
Unique Company Limited
Unique Company Limited has established itself as a trusted leader in hospitality, facilities management, and soft services, consistently delivering solutions that balance operational precision with creative innovation. Its diverse portfolio spans VIP hospitality, corporate clients, mine sites, oil and gas, construction, education, and manufacturing sectors. Each service scope is compliance‑driven and underpinned by expertise in technical specification, and seamless service delivery, ensuring clients receive both reliability and excellence.
Strategic collaboration remains central to the company’s growth. The ongoing five‑year partnership with AMAK exemplifies Unique’s ability to align with forward‑thinking organisations, combining innovation with operational rigor to achieve high‑impact outcomes. This collaboration highlights the company’s commitment to transparency and client‑focused relationships that set new benchmarks in service delivery.
With a reputation for integrity, adaptability, and attention to detail, Unique continues to shape the future of facilities services, positioning itself as the partner of choice for organisations seeking excellence and long‑term value.
Aginco plays a pivotal role in advancing mining performance across Saudi Arabia, most notably through its position as AMAK and other drilling contractors’ leading supplier of diamond drilling bits. A key factor strengthening this partnership is Aginco’s delivery of Boart Longyear’s LONGYEAR™️ MATRIX technology, an advanced diamond drilling bit engineered for exceptional efficiency. Using a patented chemicalbonding process that fuses the diamond directly to the matrix, this technology enables up to 80% diamond exposure,compared to the roughly 40% limit achievable through traditional mechanical bonding. As a result, diamonds remain exposed longer, producing significantly more meters per bit.
Aginco is equally committed to improving safety and sustainability within SaudiArabia’s mining sector. The company promotes drilling rigs equipped with FREEDOM™️ Loader technology, a fully hands-free rodhandling system thatreduces operator exposure. Aginco also offers Normet’s SmartDrive®️ battery-electric vehicle technology, which supports cleaner operations through lower energy consumption and reduced ventilation requirements. Together, these innovations underscore Aginco’s dedication to fostering a safer, more sustainable future
The direction of travel sits firmly within the broader context of Vision 2030, which places mining at the heart of Saudi Arabia’s economic diversification. As the largest fully publicly listed Saudi mining company, AMAK has an important signalling role. Its governance, disclosure and performance set expectations not only for investors, but also for an emerging generation of domestic operators.
AMAK’s strategy reflects this responsibility. The company is working to extend its mineral resource life to 15 to 20 years over the next two to three years. It sources roughly 75 to 80 percent of its operating costs from domestic suppliers, strengthening national supply chains and contributing to local economic development. At the same time, AMAK is investing heavily in people. Partnerships with Najran University and programmes run in collaboration with the Ministry of Human Resources and Social Development are designed to train and prepare Saudi youth for careers in the mining sector, with a particular focus on technical capability and leadership potential.
Environmental performance is another pillar of the strategy. AMAK is in the process of connecting its operations to the national electricity grid, displacing diesel power and r educing emissions by up to 80,000 tonnes of COâ‚‚ equivalent each year. In parallel, the company has launched projects aimed at cutting raw water consumption by around 30 percent. In a country where water stewardship and emissions reduction are increasingly important, these are material improvements.
Socially, AMAK’s workforce now exceeds 700 employees, with 39 percent Saudi nationals and a growing number of women in technical and operational roles.
Governance completes the picture. A Board that blends local insight with international experience provides oversight, accountability and strategic direction. It is an essential framework for a company that aspires to be both high growth and investable on the global stage.
These themes will be prominent at the Future Minerals Forum in Riyadh, where AMAK intends to showcase its story to an international audience. Geoff sees the event as an important platform to communicate both the scale of Saudi Arabia’s mineral potential and AMAK’s role in unlocking it.
“Our message to investors and partners is that Saudi Arabia is one of the last great underexplored mining frontiers,” he says. “We are a growth focused, responsible and investable company with proven production, very low debt, consistent shareholder returns and a pipeline of opportunities across gold, copper, zinc, iron ore and industrial minerals. We want to work with partners, suppliers and the community alike who share that long-term view.”
Central to that long-term view is a commitment to local supply chains and technical capability. Through its exploration projects, AMAK is expanding opportunities for Saudi contractors, suppliers and specialists at every stage, from geological surveys and drilling services to field support and technical consulting. The company is also focused on building an integrated mining supply chain that relies more heavily on domestic capabilities, improving efficiency and service quality while retaining more value inside the Kingdom.
The outlook to 2026 and beyond reflects this blend of ambition and pragmatism. By that time, production from Khutainah is expected to be in full swing, leveraging existing infrastructure and adding to AMAK’s resource life. Underground operations at Guyan will be firmly in the production phase, extending the life of the company’s gold output. Nuham will be supplying iron ore to Saudi cement plants, giving AMAK a stronger foothold in industrial minerals and broadening its revenue base. The current suite of priority exploration licences will be better defined, with project development studies completed and a new wave of potential mining centres moving closer to reality.
Beyond the numbers, Geoff is most energised by the structural opportunity he sees in the Arabian Shield. This ancient
geological province, long recognised by geologists but underexplored in practice, is beginning to attract the level of investment and technical attention it deserves. For AMAK, operating at the centre of this region is both a privilege and a responsibility.
“What excites me is the scale of the opportunity,” he reflects. “We are operating in a world class geological province that is still early in its exploration journey. If we do this right, we can extend our resource life to 15 or 20 years within a short period of time, but we won’t stop there, diversify into new commodities such as iron ore and industrial minerals, and build a mining company that is not only profitable but genuinely sustainable as a business. That means lowering emissions, developing local talent, empowering women and strengthening communities while we deliver value for our shareholders and for Saudi Arabia.”
In a sector that is often judged on quarterly results and headline production figures, AMAK’s story is notable for its emphasis on longevity, local benefit and integrated growth. The company is building capacity, extending its resource pipeline and diversifying its commodity mix at a time when the Kingdom is opening its mining sector to the world. It is positioning itself not just as a beneficiary of Vision 2030, but as one of its active architects.
In the years ahead, the success of Saudi Arabia’s mining strategy will be measured in more than tonnes and revenues. It will be measured in jobs created, skills developed, technologies deployed and the resilience of local supply chains. With its combination of operational performance, exploration focus and national alignment, AMAK is already demonstrating how that future can be shaped.
The veins of opportunity running through the Arabian Shield are deep and extensive. With its expanding portfolio, disciplined approach and clear sense of purpose, AMAK is intent on ensuring that those opportunities are realised in a way that delivers lasting value for investors, communities and the Kingdom as a whole. www.amak.com.sa
