Can you share a brief overview of AMAK’s history, operations, and its role in advancing KSA’s mining industry?

AMAK was established in 2008 as Saudi Arabia’s first private-sector mining company, pioneering the development of the Kingdom’s non-oil natural resources. We began operations at the Al Masane site, marking the first commercial mining project in the country to integrate base and precious metal production. Since then, AMAK has grown steadily, combining traditional mining practices with advanced technologies to enhance efficiency and output.

Significant milestones include the diversification of its mineral portfolio, the commissioning of the Guyan gold mine in 2021, and ongoing development of the Moyeath orebody. These achievements underscore our ability to adapt to industry challenges, expand our production capabilities, and align with Saudi Vision 2030’s objective to establish the Kingdom as a global mining hub. Today, AMAK’s innovative approach and strategic investments continue to position it as a key driver of Saudi Arabia’s burgeoning mining sector. What challenges has AMAK faced in the Moyeath orebody expansion?

Developing the Moyeath orebody has presented AMAK with complex underground mining challenges, including intricate geological conditions and the need for specialized processing techniques. To address these, we have leveraged advanced mining technologies and constructed a cutting-edge processing plant. This facility adds 400,000 t/y of ore processing capacity, contributing to an 80% annual production increase in zinc concentrate and 40% in copper concentrate.

With this addition, AMAK now produces 30-40,000 t/y of copper concentrate, 60-80,000 t/y of zinc concentrate, 30-40,000 oz/y of gold doré, and 40-50,000 oz/y of silver doré. Zinc and copper concentrates also include approximately 10,000 oz/y of gold and 450-500,000 oz/y of silver, reflecting the company’s ability to generate significant value from its assets with optimal operational efficiency. What are the key elements of AMAK’s strategic growth plan?

In September 2024, we announced a comprehensive growth plan focused on expanding existing opportunities and exploring new ventures that promise to deliver substantial value for our shareholders. With 21 exploration tenements covering >1,400 km2, we remain open to all options for assessing the full potential of our exploration assets, whether that be internally resourced exploration, or strategic partnerships with other explorers who bring specific skills and expertise to any given exploration target. An example of this innovative approach is our recent announcement of an exploration partnership with Power Metal Resources for nickel exploration in AMAK’s Qatan exploration area.

Identifying new exploration targets to secure a robust pipeline of mineral resources for the future, and the launch of a new exploration drilling company are pillars of AMAK’s growth plan. The new drilling entity will focus on supporting AMAK’s expansive exploration activities focused on bolstering our overall growth trajectory, as well as providing high quality exploration drilling services to other explorers seeking to leverage the substantial support and incentives on offer by the Kingdom. Vision 2030 places high emphasis on sustainability. How is AMAK integrating ESG practices into its mining operations and expansions?

We recognize the importance of sustainability and the integration of Environmental, Social and Governance practices as cornerstones of our operations. To this end, we have implemented environmentally responsible mining techniques, such as reducing waste and energy conservation. Socially, AMAK engages with local communities through job creation, training programs, and support for local businesses. Governance practices are also a priority, with AMAK adhering to stringent regulatory standards and transparent business operations. These initiatives align with Vision 2030’s emphasis on sustainability and ensure AMAK’s contribution to the Kingdom’s economic development is both responsible and forward-looking. What message would you like to share with GBR’s international audience about AMAK’s alignment with Vision 2030?

As Saudi Arabia works toward its Vision 2030 goals, AMAK stands as a prime example of how the mining sector can drive economic diversification and global competitiveness. Through strategic partnerships, technological innovation and sustainable practices, we are not only enhancing our operations but also contributing to the broader transformation of the Kingdom’s economy. AMAK’s commitment to excellence, innovation and sustainability positions us as a leader in the region’s mining industry. With a clear vision for growth and a robust strategy for achieving it, we are well-poised to play a pivotal role in Saudi Arabia’s journey toward becoming a global mining hub.