What equipment and solutions does AGINCO offer, and what brands does it represent?

FS: Our initial focus was on providing equipment and spare parts to the Mahd Ad Dhahab mine, particularly diamond bits from our long-time partner, Boart Longyear. We also supply mine sites with underground utility vehicles and essential solutions like ventilation systems manufactured by our French partner - Cogemacoustic.

WF: Along with Boart Longyear, we represent Normet, a Finnish company specializing in manufacturing utility vehicles for underground mines. Their product range includes charging and shotcrete equipment, scissor lifts, and more. We also collaborate with Strata, a US-based company that provides safety equipment for underground mining, such as rescue chambers. Additionally, we work with Element, another Finnish company renowned for manufacturing spare parts for slurry pumps and crushers. What other projects is AGINCO involved in within KSA besides supplying equipment to Ma’aden’s Mahd Ad Dhahab mine?

WF: KSA is undertaking an ambitious project called NEOM, a transformative city that will span 170 kilometers in the north. This visionary city necessitates extensive tunneling, and we are proud to support the project by supplying essential equipment and machinery, including shotcrete equipment, and charging machines from Normet. Aginco also supplies many exploration and mining companies that are in remote areas far from major cities with all their local needs, such as mechanical, electrical, and other critical items, sourced internationally and locally. What challenges does the industry face, and how do you help them overcome them?

WF: One of the main challenges within KSA’s mining industry is the reliability of machines and equipment. In recent years, we have observed an influx of newcomers to the sector who lack the necessary expertise. They often bring in unreliable equipment from abroad, posing great risks to mines’ operational efficiency and safety. Our role is actually educating our clients by showing them that opting for higher-quality equipment along with deep knowledge and skills through dedicated training programs, even at a higher initial cost, offers significant long-term benefits, especially in extended lifespan and reduced maintenance costs.

FS: It is about providing high-quality products while ensuring quick and reliable delivery. With our warehouses in Jeddah, near the second-largest and busiest seaport in the Middle East, we maintain a significant stock of essential equipment, which enables us to meet customer demands without compromising quality. Another point that keeps us at the forefront in such an evolving landscape is our balance of innovation with accessibility. Our recent partnership with Element allows us to provide specialized components for slurry and crusher machine spare parts, which often experience significant wear and tear. We can help mining companies significantly reduce maintenance costs by utilizing high-quality, durable solutions. Why is sustainability crucial for large-scale projects under Vision 2030, and what initiatives does Aginco have to support this?

FS: KSA’s mineral endowment is more than SAR 10 trillion, presenting a significant opportunity to diversify from revenue streams beyond oil and petrochemicals. However, realizing this potential requires a strong focus on sustainability. Given the scale of these projects, we must adopt sustainable practices to ensure we maximize the benefits of our resources while safeguarding the environment for future generations. We are particularly excited to promote Normet’s Battery Electric Vehicle (BEV) system, engineered to improve energy efficiency while reducing operating costs, as it also minimizes environmental impact by operating without harmful emissions. Another great feature of the BEV system is its Smart Drive Technology, which includes regenerative braking, meaning it can recover energy during downhill movement, further increasing efficiency. By combining these innovations, the BEV system significantly lowers a mine’s carbon footprint. Vision 2030 is attracting major players to Saudi Arabia. Will this result in increased competition or encourage collaboration?

FS: The sector’s growth is manifesting in various ways, mainly through new tenders and bidding processes for licenses related to exploration and production that provide opportunities for both local and global companies at different levels. While the government’s proactive engagement is attracting various players to the market, resulting in increased competition, it also fosters collaboration, leading to the establishment of new JVs. Aginco is positioned to play a role in this landscape by introducing innovative technologies or facilitating partnerships between international and local companies, ensuring the best possible outcomes for all stakeholders.