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SPACE-
Singapore-based space tech architect Qosmosys plans to open a regional HQ in Riyadh, with the aim of transforming it into the company’s global HQ within the next two years, it said in a press release. The new hub will centralize Qosmosys’ global operations and targeted R&D projects, including its lunar positioning and navigation system Triops.
The office will also foster global partnerships and support Saudi Arabia’s moon economy, KSA’s Head of Development at the firm Omar Halawani said.
SOUND SMART- The emerging moon economy is a future market focused on utilizing lunar resources, establishing essential infrastructure, and delivering vital services to support lunar missions and drive innovation in the space sector.
About Qosmosys: Founded in 2020 by François Dubrulle (LinkedIn), the company specializes in the design and integration of advanced space system architectures and aims to advance lunar exploration.
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MINING-
The World Mining Union — a Saudi Gold Refinery subsidiary — is seeking a mineral and gold prospecting license in Egypt’s Eastern Desert within the concession area of Shalateen Mineral Resources Company, the parent company’s operations manager Yousif Abdulrahim told Asharq Business. Saudi Gold Refinery Group officials will visit Cairo in two weeks to discuss potential mining investments, Abdulrahim said.
Part of a broader mining push: Saudi Gold Refinery has set targets to expand into Egypt, Sudan, Ethiopia, Eritrea, Pakistan, and Kazakhstan by 2025. It also requested 162 additional exploration licenses in the Kingdom on top of its 25 current licences — aimed at establishing and operating more gold mines by 2030.
ICYMI- Saudi Gold Refinery inked multiple agreements with Chinese mining firms at China’s Tianjin Mining Conference last October to expedite gold production in the Kingdom from the time of its discovery by up to 70%.
CONSULTANCY-
US-based consultancy Bain & Company inaugurated a new regional headquarters in the King Abdullah Financial District, according to a press release. This is the company’s third location in Riyadh.
IN CONTEXT- Consultancy firms, including Deloitte and EY, have been expanding their presence in the Kingdom to fill the vacuum left by the PIF barring PwC from advisory contracts. Some firms have already been invited to bid on consultancy contracts for gigaprojects, including Neom.
