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Engineer Meshary AlAli AlDeheshi, CEO of Golden Compass Mining Services Company, stated that the Kingdom of Saudi Arabia seeks to access vital minerals used in key areas, strengthen the Saudi sector and make it more sustainable.

AlDeheshi added that Manara Company is looking to diversify the Saudi economy externally, especially in the mining sector, which is radically different from other sectors. Diversifying the economy contributes to empowering the private sector and playing a greater role in the development process away from the government role.

To watch the full interview on Bloomberg: Click here

For the second year in a row, Rasi Investment Group participates at the Future Minerals Forum 2024 in Riyadh as part of two companies – Golden Compass Mining Services Company and Addaan International Trading Company.

The FMF discusses many issues related to the mining and energy sector, the most prominent challenges and how to overcome them.

We were also pleased with a generous visit from His Excellency the Deputy Minister of Industry and Mineral Resources for Mining Affairs, Eng. Khalid bin Saleh Al-Mudayfer attended the Golden Compass Mining Services Company’s stand and briefed him on its most prominent work.

The FMF included an exclusive interview on Bloomberg with the Chairman of Rasi Group, Engineer Meshary Al-Ali, and his talk about a major trend in 2025 to offer shares of the Golden Compass Mining Services Company for public subscription, and strive to be included in the TASI 50 index.

A memorandum of understanding was also signed between Rasi Investment Group and Ajlan & Brothers Holding Company during the FMF.

At the conclusion of the FMF, Engineer Meshary Al-Ali was honored by the Ministry of Industry and Mineral Resources, represented by Mr. Turki bin Abdul Rahman Al-Babtain – Undersecretary for Mining Development – as a strategic partner for the success of the “NUTHREE Incubator” and one of its supporters.

Meshary Al-Ali, CEO of Golden Compass Mining Services Company, revealed his company’s intention to offer its shares for public subscription on the Saudi Stock Exchange next year.

He pointed out in an interview with Al-Sharq, on the sidelines of the third Future Minerals Forum held in the capital, Riyadh, that “Golden Compass”, which specializes in the field of mining, especially exploratory drilling, as it has more than 40 rigs, aspires to be within the “TASI 50” index. For the largest Saudi companies after being listed on the stock exchange in 2025.

Al-Ali said it is likely that the mining sector in the Kingdom will witness a qualitative leap in light of the Ministry of Industry and Mineral Resources granting many licenses to companies for exploration, in addition to legislation, government support, and infrastructure, in light of the great demand from foreign companies.

The Chairman of Rasi Investment Group, Engineer Meshary Al-Ali, participated in the meeting of the Saudi Bangladesh joint Business Council meeting in Bangladesh, in the presence of Her Excellency the Prime Minister of the Republic of Bangladesh, Mrs. Sheikh Hasina Wajid and His Excellency the Saudi Minister of Investment, Mr. Khalid Al-Falih.

The meeting discussed the most prominent investment opportunities between the two countries and how to enhance them. It also discussed a number of workshops and meetings between Saudi and Bangladeshi companies on the sidelines of this visit.

Golden Compass Mining Services Company (Subsidiary of Rasi Investment Group) participated in the International Mining and Resources Conference (IMARC) in Australia.

The IMARC is Australia’s largest and most influential mining event, and a leading platform for the global mining industry.

Attracting over 8,000 registrants, the conference is where the most influential people in the mining industry come together, providing ideas and inspiration to the industry, and is a live showcase of all the elements that make the mining industry great.

Eng Meshary Al-Ali, CEO of Golden Compass and Chairman of Rasi Investment Group ranked as the 2021 World CEO of the year according to CEO Rankings.

Eng Meshary Al-Ali is a licensed consultant in the field of geological consultancy, geophysical consultancy, and mining consultancy, and considered the first Saudi entrepreneur to specialize in the mining sector.

Reference: https://www.ceorankings.com/mesharyalali

His Excellency the Deputy Minister of Industry and Mineral Resources for Mining Affairs, Eng. Khaled bin Saleh Al-Mudaifer, inaugurated today the training program for the mining exploration incubator “Nuthree”, in the presence of a number of officials of government agencies and partners from the private sector, at the Enterprise Support Center of the Small and Medium Enterprises Authority.

Al-Mudaifer explained that the launch of the “Nuthree” incubator comes within the framework of the Ministry of Industry and Mineral Resources’ keenness to create a sustainable local exploration environment. To enable emerging individual explorers, local small and medium companies, and investors interested in the mining sector, in line with the objectives of the Kingdom’s Vision 2030 and the National Industry Development Program and Logistics Services; To make the mining sector the third pillar of national industries.

He stated that the Nuthree incubator is the ideal platform for entrepreneurs in the Kingdom to invest in the mining sector. To empower explorers and entrepreneurs, develop their skills, and embrace the largest number of startup companies and support them, in cooperation with the Small and Medium Enterprises Authority “Monshaat” and the Saudi Geological Survey; To be important elements in the development of the mining sector, especially in the field of mining exploration, which is a fertile environment for investment.

In turn, the CEO of the Saudi Geological Survey, Eng. Abdullah bin Muftar Al-Shamrani, stated that through the exploration incubator, sustainable strategic partnerships will be built to promote entrepreneurship in the field of mineral exploration and provide related services. Such as analyzing geological data, exploiting local capabilities, and exchanging information, knowledge, and expertise in the mining sector.

The inauguration ceremony witnessed the signing of a memorandum of understanding by the Ministry of Industry and Mineral Resources with Umm Al-Qura University, which included aspects of cooperation, organizing workshops in the field of mining within the training program of the mining exploration incubator “Nuthree”, and providing training courses in economic feasibility studies and mining resources and reserves, in addition to developing skills. Technical support for explorers in the Kingdom, employing their capabilities in establishing small and medium-sized emerging companies and supporting them with global expertise, contributing to providing the appropriate environment and facilities necessary to support innovation, providing specialized consultations, and exchanging knowledge, experiences and important research results.

The Ministry also signed memorandums of understanding with 8 international and local companies specialized in the mining sector. They are: the Saudi Arabian Mining Company “Ma’aden”, “AMAC Mining Company”, the “DRA Global Company”, “Golden Compass MSA”, “Ajlan and Brothers Mining Company”, “Gold and Minerals Mining Company Limited”. Behre Dolbear Company and Amed Fund Company; This is with the aim of exchanging practical and scientific experiences between the two parties, and contributing to developing the capabilities of explorers in the field of mining exploration, raising technical levels, and providing the necessary support to incubators, by holding training courses related to exploration activities, resources and mining reserves, and developing technical work programs for exploration licenses, in addition to defining Providing explorers with the technical requirements necessary to apply for exploration licenses and developing their skills in this field.

It is noteworthy that the number of applicants for the incubator reached 500 applicants, and 17 candidates passed the acceptance criteria, between companies and individuals, as their training journey is scheduled to begin in the “Nuthree” incubator for a period of 6 months, from this September to February 2024 AD, through a program dedicated to developing their skills. ; To ensure the provision of the necessary knowledge, and to provide them with local and global expertise; To move forward towards achieving a sustainable mining exploration environment in the Kingdom.