AMAK showcases Saudi Arabia’s mining potential

From left: Abdulrahman Al-Belushi, assistant deputy minister for mining enablement; Mohammed bin Manea Aballala, chairman at AMAK; Geoffrey Day, CEO at AMAK; Turki Albabtain, deputy minister for mining development; and Ahmed bin Muhammad Faqih, deputy minister for mining control.
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Updated 20 January 2025
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AMAK showcases Saudi Arabia’s mining potential

Al-Masane Al-Kobra Mining Company highlighted the Kingdom’s emerging position as a global mining hub during the Future Minerals Forum 2025 and announced the addition of three new exploration licenses for base and precious metals after winning the seventh round of the mining bids organized by the Ministry of Industry and Mineral Resources.

Underlining the recent operational achievements that demonstrate the sector’s growth potential, Geoffrey Day, chief executive officer of AMAK, said: “Saudi Arabia has established itself as one of the most progressive and supportive countries for mining development. The Kingdom’s mineral wealth, estimated at SR9.4 trillion ($2.5 trillion) according to the Ministry of Industry and Mineral Resources, combined with supportive government policies and initiatives, along with infrastructure development projects, creates unprecedented opportunities for international collaboration.”

Strategic growth and operational excellence

AMAK has accomplished several significant milestones that accelerate the Kingdom’s mining sector, in line with the goals outlined in Saudi Vision 2030. These include the completion of the Moyeath processing plant within the Al-Masane Mine. The expansion has increased annual ore processing capacity to 1.2 million tonnes, enabling a combined production of 30-40 kt of copper concentrate, 60-80 kt of zinc concentrate, 35-45 koz of gold, and approximately 500 koz of silver.

As part of its 2025 strategic growth plan, AMAK is advancing several key projects. These include the Khutainah Gold Project, and the Nuham Iron Ore Project with more than 7 Mt resources. The company also plans to initiate underground mining operations at the Guyan Gold Mine in 2025, which is expected to reduce gold production costs through higher-grade underground reserves and lower production costs.

Sustainability and national talent

The company’s commitment to sustainable practices includes initiatives to connect its facilities to the national power grid, which will reduce diesel consumption and improve the company’s carbon footprint. AMAK is also expanding its dry tailing storage capacity to accommodate all current and future mineable reserves, supporting both operational growth and environmental sustainability.

In alignment with Vision 2030’s focus on human capital development, AMAK has achieved a 36 percent localization rate in its workforce. The company’s partnership with the Saudi Mining Polytechnic has been instrumental in training Saudi youth for specialized roles in the mining sector. 

Recently, 30 Saudi trainees completed a comprehensive two-year diploma program and are now actively contributing to various operational areas.

“Our growth strategy fully supports the Kingdom’s vision by developing Saudi Arabia’s rich mineral resources while contributing to local economies,” Day said. “The expansion of our operations, combined with our focus on sustainability and national workforce development, demonstrates our commitment to creating long-term value for all stakeholders.”

Transformative potential of mining

Day also highlighted the transformative potential of Saudi Arabia’s mining sector in addressing global mineral supply challenges. “The Kingdom is strategically positioned to become a key supplier of critical minerals essential for the global energy transition. With our expanding operations and focus on innovation, AMAK is well-positioned to support this transformation.”

The company’s strategic approach aligns with Saudi Arabia’s broader ambitions to rank among the top 10 mining countries globally. AMAK’s recent investments in exploration and processing capabilities demonstrate the opportunities available within the Kingdom’s mining sector, which is supported by robust infrastructure development, including ports, modern highway networks, and industrial zones.

“What makes Saudi Arabia particularly attractive for mining investment is the combination of geological wealth, strategic location between Asia, Europe, and Africa, and the introduction of the Mining Investment Law,” Day added. “These factors, coupled with the Kingdom’s commitment to developing the sector, create an unprecedented opportunity for global partnerships.”

AMAK’s participation in FMF 2025, marking its fourth consecutive year at the forum, reflects its ongoing commitment to advancing Saudi Arabia’s mining sector. The company continues to implement advanced technologies, including prospectivity mapping and systems for real-time tracking of metals from mine to smelter, positioning itself at the forefront of mining innovation in the region.


1957 Ventures and NTDP support Saudi tech startups

Updated 12 February 2025
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1957 Ventures and NTDP support Saudi tech startups

In a major step toward fostering innovation in financial technology, 1957 Ventures and the National Technology Development Program have signed a strategic partnership agreement at LEAP 2025. This collaboration is designed to support startups and mid-sized tech companies, strengthen the innovation ecosystem, and accelerate the growth of Saudi Arabia’s fintech sector.

Ibrahim Neyaz, CEO of NTDP, said: “At NTDP, we believe that empowering startups and SMEs is essential for the growth of the digital economy and for achieving the goals of Saudi Vision 2030. Through this agreement, we aim to provide comprehensive support, including technical advisory, funding, and access to new markets. Our customized solutions cater to different growth stages, from prototyping to full-scale market launch. This partnership is a testament to our commitment to nurturing local talent and strengthening Saudi Arabia’s technology sector.”

Emad Kashgari, CEO of 1957 Ventures, said: “This agreement reflects our deep commitment to fostering startups and building a thriving fintech entrepreneurship ecosystem. Beyond offering co-working spaces and advisory services, we are creating an integrated innovation and investment ecosystem. The success of startups hinges on access to capital, resources, and the right markets. This partnership will empower fintech startups with the tools and opportunities they need to scale both locally and regionally in a sustainable manner.”

This strategic agreement aligns with the broader efforts of 1957 Ventures and NTDP to accelerate innovation, support the growth of Saudi Arabia’s digital economy, and enhance the contribution of the technology sector to GDP. It marks a pivotal milestone in a long-term strategy aimed at creating a competitive, startup-friendly business environment that positions Saudi Arabia as a global leader in fintech innovation and digital entrepreneurship.


SUDO Consultants forges strategic alliance with Coca-Cola

Updated 12 February 2025
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SUDO Consultants forges strategic alliance with Coca-Cola

In a groundbreaking moment at LEAP 2025, SUDO Consultants announced a strategic partnership with Coca-Cola, one of the world’s most iconic and globally recognized brands. This collaboration marks a significant milestone for SUDO, reinforcing its position as a leader in cloud transformation, delivering scalable, well-architected solutions that enhance business resilience, optimize SAP environments, ensure disaster recovery readiness, and enable full cloud migration to AWS.

The agreement was formalized at the Coca-Cola office during LEAP 2025. This partnership highlights SUDO’s expertise in AWS-powered digital transformation, with a strong focus on full cloud migration, optimization, and disaster recovery strategies, ensuring Coca-Cola’s infrastructure is secure, cost-efficient, and highly scalable.

Hameedullah Khan, CEO of SUDO Consultants, and Syed Kareemuddin, IT infrastructure and cybersecurity manager at Coca-Cola, signed the agreement.

This collaboration was facilitated by Aakash Sapra from SUDO Consultants, reflecting SUDO’s ability to partner with global enterprises, offering cutting-edge AWS solutions that drive efficiency, security, and operational excellence.

By aligning with Coca-Cola’s cloud-first vision, SUDO is empowering enterprises with cloud-driven strategies that eliminate on-premise infrastructure limitations and unlock the full potential of AWS cloud adoption.

As an AWS Advanced Partner, SUDO is the preferred choice for leading enterprises because of its deep expertise in AWS migrations, SAP modernization, security, and cost optimization. Companies like Coca-Cola trust SUDO for their:

  • Cloud migration to AWS: Seamlessly transitioning from on-premises or hybrid infrastructure to a fully AWS-native environment.
  • Industry-specific AWS solutions: Delivering tailored cloud strategies to support SAP workloads, disaster recovery, and automation.
  • Security-first approach: Implementing robust security frameworks that comply with SAMA, NCA, and PCI DSS standards.
  • FinOps and cost optimization expertise: Helping businesses reduce cloud waste, optimize AWS spending, and maximize ROI.
  • Proven track record with global and regional enterprises: Successfully migrating and securing cloud workloads, ensuring high availability and performance.
  • End-to-end digital transformation: From consultation to deployment, automation, and continuous cloud management.

As SUDO Consultants celebrates this landmark collaboration, the company remains committed to helping enterprises transition seamlessly to AWS, modernize their IT landscapes, and ensure long-term cloud success. This partnership is not just an agreement— it’s a step toward enabling Coca-Cola’s future-ready cloud transformation with scalability, security, and cost efficiency at its core.


Takamol Ventures helps MEA startups to turbocharge growth

Updated 12 February 2025
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Takamol Ventures helps MEA startups to turbocharge growth

Takamol Ventures, the investment arm of Takamol, invests in tech startups across the MEA region. With a sector-agnostic approach within the broader technology space, Takamol Ventures invests in cutting-edge technologies to enhance Takamol’s contributions to this promising sector and contribute to the Kingdom’s evolving digital economy.

Launched during LEAP last year with a SR200 million ($53.3 million) fund, Takamol Ventures has made significant strides in fostering innovation. The firm joined the NVIDIA VC alliance program to closely collaborate with NVIDIA and fellow alliance members to drive innovation and support startups in shaping the future of technology. Additionally, it has forged a strategic collaboration with Plug and Play, focusing on deal flow, mentorship, and knowledge sharing.

As a strategic partner, Takamol Ventures goes beyond capital by providing portfolio companies with direct access to Takamol’s vast resources, industry expertise, and extensive network of partners and clients. The unique positioning allows startups to accelerate their growth while creating synergies with Takamol’s existing operations.

Takamol Ventures serves as an inorganic growth engine for its parent company, enabling it to tap into new technologies, expand into new markets, and drive strategic innovation.

Since its inception, Takamol Ventures has successfully closed two investments, one in the fintech space and the other in AI, both of which are recognized as category leaders in their respective domains.

Saudi Arabia’s venture capital ecosystem has evolved rapidly over the past decade, driven by Vision 2030, government-backed initiatives, and increasing investor interest.

A key catalyst was the establishment of the Saudi Venture Capital Company in 2018, which has backed over 54 funds and 800+ startups.

The LEAP tech event has further accelerated this momentum, attracting global investors and facilitating deals worth $11.9 billion in 2024. International collaboration is growing, complementing strong local investment activity.

The Nomu market has opened new exit opportunities for VC-backed startups, providing much-needed liquidity. A key milestone was Jahez’s listing in January 2022, making it the first tech company to go public on Nomu — setting a precedent for other startups.

Regulatory initiatives such as SAMA and CMA’s sandboxes, have played a crucial role in fostering a dynamic fintech ecosystem by lowering entry barriers, encouraging innovation, and boosting investor confidence.

Saudi Arabia’s VC landscape continues to strengthen through government-backed funds like SVC, improved regulations, and global tech events like LEAP, leading to the rise of homegrown unicorns and increasing participation from top-tier global investors like Sequoia Capital and General Catalyst.

With sustained government support and a rapidly maturing startup ecosystem, Saudi Arabia is positioning itself as a leading innovation and investment hub in the region.


stc to advance gen AI innovation in region with Cohere

Updated 12 February 2025
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stc to advance gen AI innovation in region with Cohere

stc Group, the region’s leading digital enabler, has announced a strategic collaboration with Cohere, a secure enterprise AI company, to transform the AI landscape in the Middle East and beyond. This collaboration is set to redefine stc’s AI-driven operations, enhance customer engagement, and unlock new digital growth opportunities through state-of-the-art AI solutions.

Under the collaboration, stc will leverage Cohere’s cutting-edge AI capabilities to develop transformative products as part of its internal gen AI initiative. The joint effort will focus on key AI-powered innovations, including stc’s AI-powered language model and the Digital Co-Workers Foundry, designed to optimize business efficiency and deliver a superior digital experience for customers.

As part of the efforts, stc will work with Cohere to develop North for Telecom, a customized version of Cohere’s North, a secure AI workspace platform announced earlier this year. North for Telecom will be tailored to address the unique needs of the sector, providing intelligent automation, enhanced conversational experiences, and real-time data insights. Meanwhile, the Digital Co-Workers Foundry will introduce AI-driven virtual assistants designed to streamline workflows, boost productivity, and support stc’s workforce with intelligent automation solutions.

“As a leader in digital transformation, stc continues to invest in advanced AI technologies that will shape the future of our industry. Our collaboration with Cohere represents a significant milestone in our AI journey, reinforcing our vision to harness AI-driven intelligence, enhance operational capabilities, and introduce innovative AI solutions that create tangible value,” said Haithem Mohammed Alfaraj, group chief technology officer at stc Group.

Motaz Alangari, group chief investment officer at stc Group, added: “stc Group strategically invests in pioneering companies that unlock access to transformative technologies, new business models, and enhanced revenue streams. This collaboration aligns with tali ventures, stc’s corporate venture capital arm, which plays a key role in fostering technological advancement and investing in next-generation innovations that complement stc’s digital ecosystem.

“Cohere is a global leader in secure enterprise AI, and our investment in this collaboration facilitates access to enterprise-grade AI solutions, positioning stc to maximize AI’s potential across its product and service offerings.”

Cohere will bring its expertise in enterprise AI models and applications to stc’s ecosystem, ensuring faster adoption and optimization of AI capabilities across stc’s digital infrastructure.

“It’s been great working closely with stc’s team,” said Aidan Gomez, Cohere’s co-founder and CEO. “I’m really excited to bring our secure AI technology to enhance its role as a digital enabler. We look forward to collaborating with stc and integrating Cohere’s enterprise AI solutions to lift grunt work off the backs of their employees so they can focus more on the areas of their jobs where they can add real value.” 

This collaboration underscores stc’s commitment to being at the forefront of AI-driven innovation, fostering a digital-first economy, and shaping the future of intelligent technology in Saudi Arabia and beyond.


Cenomi Centers taps Tawal to boost indoor mobile coverage in malls

Updated 12 February 2025
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Cenomi Centers taps Tawal to boost indoor mobile coverage in malls

Cenomi Centers, the leading owner, operator and developer of contemporary lifestyle centers in Saudi Arabia, announced during the LEAP 25 conference that it is partnering with telecommunications infrastructure provider Tawal to implement cutting-edge indoor cellular coverage across its retail properties. Cenomi Centers announced this step forward in digital connectivity as world leaders in technology gather in Saudi Arabia to discuss the ever-changing technology landscape.

This move will bring seamless, high-speed connectivity for visitors, tenants and mall operators across Cenomi Centers’ entire portfolio of 22 assets, including over 4,500 stores across 10 major Saudi cities. The network will cover various mobile service providers, ensuring maximum impact for all users.

The implementation of a wireless connectivity network is consistent with Cenomi Centers’ commitment to providing a premium visitor experience, empowering customers with easy connectivity for browsing, navigation and online purchases. It also fits into Cenomi Centers’ vision for digital malls, bringing together technology and shopping experiences to create a connected environment that drives footfall. 

This infrastructure will be future-ready, supporting emerging technologies like 5G, the Internet of Things and smart solutions. This is an investment that will ensure Cenomi Centers’ portfolio will be the best retail and lifestyle destinations not just for today, but for tomorrow.

Alison Rehill-Erguven, CEO, Cenomi Centers, said: “At Cenomi Centers, we are thrilled to partner with Tawal to offer the best connectivity to our customers. We know that the future of retail is in omnichannel experiences, and we want to ensure that both our customers and our tenants are able to engage with each other across as many mediums as possible, reinforcing our experiential approach to shopping. We are grateful to Tawal for its partnership and look forward to working together in the years to come.”

Mohammed Alhakbani, CEO, Tawal, said: “Tawal is enthusiastic about this agreement to offer state-of-the-art telecommunications infrastructure across all of Cenomi Centers’ properties. This is an important step toward guaranteeing high-quality cellular coverage for everyone, wherever they need it, ultimately serving to connect people and improve their daily lives.”

Tawal and Cenomi Centers share a dedication to empowering shoppers to connect with each other and enjoy the best retail experiences in the world. This commitment, partnering the Kingdom’s premiere shopping properties with the best telecommunications technologies, will position both partners, alongside their customers, to thrive in the years to come.