Amak launches new mining firm with 200 million riyals

Maaden (Saudi Arabian Mining Company) has announced the establishment of a new company called "Snam Mining" with a capital of 200 million SAR in Jeddah, aimed at strengthening the Saudi mining sector. Maaden owns 51% of the company's capital, while related institutions hold other shares. The company has committed not to engage in exploration or mining activities in the Najran and Asir regions to ensure there is no competition with Maaden. Additionally, Maaden has launched a new exploration drilling company, "Advances Drilling," to support mining explorations, focusing on accelerating exploration operations and providing global drilling services as part of its strategy to develop the sector and enhance efficiency.

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