Golden Compass<\/a> for Mining Services, one of Saudi Arabia\u2019s leading providers of mining services and geological consultancy, jointly owned by Naif Alrajhi Investment and Rasi Investment, has announced the signing of a strategic partnership agreement with Thara Future Investments, marking a significant step toward building a fully integrated national mining services champion in the Kingdom. Under the agreement, Thara Future Investments will acquire a strategic equity stake in Golden Compass, supporting the company\u2019s next phase of growth and long-term value creation.<\/p>\n\n\n\nThe partnership was announced during the fifth edition of the Future Minerals Forum, held in Riyadh from January 13 to 15. It reflects the partners\u2019 shared commitment to advancing Saudi Arabia\u2019s mining sector as a core pillar of the national economy and a key contributor to industrial development and diversification.<\/p>\n\n\n\n
In light of this strategic partnership, Golden Compass plans to implement an ambitious expansion strategy aimed at strengthening its leadership position in the mining sector. The plan includes investments in infrastructure, the enhancement of human capital, digitalization, and the further development of the company\u2019s service portfolio.<\/p>\n\n\n\n
The strategy also encompasses the expansion of drilling rigs, the establishment of a specialized data center, and the development of a state-of-the-art geochemical laboratory in partnership with the world\u2019s leading analytical services provider, in line with the highest international standards.<\/p>\n\n\n\n
In addition, the plan includes expanding the heavy equipment fleet and investing in the training of specialized national talent, reinforcing Golden Compass\u2019s position as a national partner contributing to the advancement and alignment of the Kingdom\u2019s mining sector strategy.<\/p>\n\n\n\n
Naif bin Saleh Alrajhi<\/strong>, Chairman and CEO of Naif Alrajhi Investment Group, said the agreement represents a strategic step that reflects the Group\u2019s commitment to supporting the national economy through investment in the mining sector. He described mining as the third pillar of the Saudi economy and a key driver for economic diversification and local content development, in line with Vision 2030.<\/p>\n\n\n\nHe added: \u201cThis partnership will contribute to building a leading national mining entity that strengthens governance and investment frameworks while enables expansion into high-value projects within this promising sector.\u201d<\/p>\n\n\n\n
Eng. Meshary Al-Ali<\/strong>, Chairman of Rasi Investment and Founder & CEO of Golden Compass and, said the entry of Thara Future Investments as a strategic partner reflects strong confidence in the company\u2019s expansion plans and long-term strategy.<\/p>\n\n\n\n\u201cThis partnership will enhance Golden Compass\u2019 operational capabilities enabling the delivery of fully integrated services across the mining value chain, from exploration, drilling, to operations, while opening new opportunities for innovation and improving operational efficiency in support of sustainable sector development,\u201d he said.<\/p>\n\n\n\n
Al-Ali reaffirmed the company\u2019s commitment to advancing its operational ecosystem and building highly qualified national talent capable of delivering world-class services, supporting Saudi Arabia\u2019s ambition to become a regional (super region) and global mining hub.<\/p>\n\n\n\n
Hisham Mohammed Attar, Co-founder<\/strong> and managing partner of Thara Future Investments, said: \u201cGolden Compass possesses advanced capabilities that enable the delivery of a wide range of essential support services for mining operations. This partnership forms part of our broader growth and expansion strategy within the mining sector.\u201d<\/p>\n\n\n\nThe partnership comes 11 years after the founding of Golden Compass, during which the company has delivered numerous government projects and initiatives under the strategy of the mining sector partnering with the Ministry of Industry and Mineral Resources and the Saudi Geological Survey.<\/p>\n\n\n\n
Since its establishment in 2015 as a specialized drilling and geological mining consultancy, Golden Compass has operated in six countries and secured strategic partnerships that have accelerated its growth and transformation.<\/p>\n\n\n\n
Today, the company is positioned as a fully integrated mining services provider in Saudi Arabia, supported by outstanding operational capabilities and a comprehensive service offering.<\/p>\n","protected":false},"excerpt":{"rendered":"
RIYADH :Gulf Tech News Golden Compass for Mining Services, one of Saudi Arabia\u2019s leading providers of mining services and geological consultancy, jointly owned by Naif Alrajhi Investment and Rasi Investment, has announced the signing of a strategic partnership agreement with Thara Future Investments, marking a significant step toward building a fully integrated national mining services …<\/p>\n","protected":false},"author":2,"featured_media":84320,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[622],"tags":[4864,4861,4865,4863],"class_list":["post-84319","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-ceo-2","tag-golden-compass","tag-naif-alrajhi-investment","tag-thara-future-investments"],"yoast_head":"\n
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