MINING-

#1- Ma’aden hits gold and copper: Saudi Arabian Mining (Ma’aden) found high-grade mineralization at its Mansourah Massarah gold mine extending 220 meters below the deepest point of its open pits, as well as broad zones of gold mineralization at its Wadi Al Jaww mine, and gold and copper mineralization at its Jabal Shayban mine, it said in separate filings to the exchange (here and here).

REMEMBER- Ma’aden started full operations at the Mansourah Massarah mine, the Kingdom’s largest gold mine, in 1Q 2024, with an estimated annual production capacity of 250k ounces of gold.

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#2- The Saudi Industry and Mineral Resources Ministry signed five partnership agreements with the governments of France, Austria, Jordan, Djibouti, and Zambia to boost cooperation in the mining sector, according to separate posts on X. This took place on the sidelines of the Future Minerals Forum.

MANUFACTURING-

Aramco inked an MoU with Indian conglomerate Welspun Corp to set up an LSAW pipe factory in Dammam, Welspun said in a regulatory filing (pdf) to the National Stock Exchange of India. The new plant, slated to begin operations in mid-2026, will have a production capacity of 350k MT of pipes per year.

ALSO- Modon + Aramco ink localization MoU: Aramco signed an MoU with Modon during the In-Kingdom Total Value Add (IKTVA) Forum to localize energy sector supply chains and increase local content in the oil and gas industries, according to a third post.

LOGISTICS-

Aramco-DHL JV lands a 15-year warehousing agreement with Aramco: Advanced SupplyManagement Operations (better known as ASMO), a JV between Aramco and DHL, signed a 15-year agreement with Aramco to manage procurement and logistics services for the oil giant, including demand planning, inventory management, warehousing, and access to a B2B e-marketplace, according to a press release. This comes just as ASMO launched its first warehouse in Riyadh.

REMEMBER- The JV locked in SAR 300 mn (USD 81 mn) in agreements with Aramco Digital, SAP, and Oracle to “digitalize and advance the transformation of the supply chain and procurement landscape.” It also signed MoUs targeting energy, chemicals, refining, healthcare, and aviation to boost Saudi Arabia’s supply chain sector.

HEALTHCARE-

PIF’s investment firm Sanabil Investments partnered with healthcare venture builder Redesign Health to back the launch of at least 20 healthcare companies via their newly-launched Venture Studio by Redesign Health, according to a press release.

DEBT WATCH-

#1- Keir International lined up a SAR 50 mn shariah-compliant loan with the Arab National Bank, according to a disclosure to Tadawul. The one-year facility will go towards financing Keir’s projects, as well as the issuance of bank guarantees and letters of credit.

#2- Saudi Networkers Services renewed a SAR 40 mn shariah-compliant credit facility with Saudi Awwal Bank, according to a disclosure to Tadawul. The facility runs until 5 December, 2025 and will finance the company’s working capital.

ART-

Auction house Sotheby’s gears up to host its first-ever auction in Saudi Arabia on 8 February in Diriyah, Art News reports. The auction, titled Origins, will feature around 100 lots, including artworks by Pablo Picasso, Andy Warhol, and Wassily Kandinsky, along with rare watches, jewelry, sports memorabilia.

BUSINESS-

UK-born construction consultancy Rider Levett Bucknall (RLB) inaugurated its regional headquarters in Riyadh, according to Arab News. RLB has operated in the Kingdom for 40 years, working on infrastructure projects across residential, commercial, healthcare, and educational sectors. RLB specializes in construction, property, and management services, offering expertise in cost management, project programming, and advisory services.

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