Saudi Arabia has recorded significant progress in the global assessment of investment risks in the mining sector issued by MineHutte, achieving the fastest global growth in the development of the regulatory and basic environment attractive to investments during the last 5 years.. More analysis with Eng. Meshary AlAli AlDeheshi, Chairman of Rasi Investment Company and CEO of Golden Compass Mining Services Company.
Watch the full interview on Bloomberg
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.
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
With the aim of investing in the development of the local mining services sector.. Nusaned fund 2 managed by “Al Ahly Capital” signs an agreement to acquire 35% of the “Golden Compass”
For more:
Al Ahli Private Investment Fund Company – “Nusaned Fund 2” – signed an agreement to acquire a 35% stake in the “Golden Compass Mining Services” company, through shares subscription.
Nusaned Investments, an independent investment company wholly owned by SABIC, engaged in the acquisition and development of small and medium-sized companies, is the lead investor and technical advisor in Nusaned Fund II.
The “Golden Compass Mining Services Company”, which is based in Jeddah, provides; Geological and mining consulting services and exploratory drilling of all kinds, in addition to mine operation services and supporting exploration services, with the aim of enhancing settlement and increasing local content.
Nayef Al-Ayed, CEO of Nusaned Investment Company, explained that this investment will contribute to achieving the company’s goals to support and enhance local content by localizing part of the mining services, which supports the objectives of the Kingdom’s Vision 2030 and the National Industry Development Program and Logistics Services, which focuses on transforming the Kingdom into a powerhouse major industrial.
He added that the agreement will greatly diversify the investment portfolio of Nusaned Investment Company by focusing on one of the unique and promising sectors.
On the other hand, Meshary Al-Ali, founder and CEO of Golden Compass Mining Services Company, said that this agreement will help consolidate the company’s presence locally, open doors to regional markets and finance its future growth in the mining sector.