Saudi Comedat plans to double its capacity amid strong growth in the mining sector
RIYADH: Saudi Comedat Company, one of the leading contractors for open-pit mining in Saudi Arabia, is planning to double its capacity as the Kingdom is showing strong signs of growth in the mining sector, a top company official said. disclosed.
In an exclusive interview with Arab News on the sidelines of the Future Minerals Forum in Riyadh on January 11, Ali Saeed Alqahtani, CEO of Saudi Comedat Company, said that Saudi Arabia is one of the best places for the mining sector because of the Kingdom. “The potential for stability and growth.”
“We are aiming to double our capacity in five to six years. Now, we handle about 2.5 million cubic meters per month for Madden. Hopefully, we will double it because Madden and the whole mining business is growing,” Alkhatani told Arab News.
The CEO revealed that the company tried to move outside Saudi Arabia “but the risk was too high due to unstable laws and volatile politics in the mining sector.”
“I think Saudi Arabia is by far the best market in terms of stability and growth. We are focusing on the Saudi market, and we also have Jordanian partners.
Alkhatani further added that Saudi Comedat has plans to forge new partnerships with companies other than Ma’aden, as more companies are entering Saudi Arabia due to the positive changes taking place in the mining sector.
“We’ve been working with Madden for 15 years. We are aiming to develop business for other companies, as you can see, the pipe is full of exploration companies. Once licensed, they will need a mining service company like ours to do their job.”
Saudi Comedat currently has more than 300 employees, of whom 42 percent are Saudi nationals, as well as seven women working in the administration department.
Alkahtani also said that the company, along with Madden, is training Saudi nationals at a dedicated educational facility called the Saudi Mining Polytechnic Institute, and that the institute has already hired the first batch.
Talking about the company’s responsibility to ensure sustainability, Alkhatani said that Saudi is following the guidelines of Comedat Madden, as they come under their umbrella as a contractor. “We have strict environmental policies. What we call fugitive dust, because by the nature of the operation, you will have dust. So, we are suppressing that with chemicals and water.”
Alkahtani said that the mining industry is going to have a bright future here, but suggested that companies entering the mining industry need a lot of patience to be successful in the sector.
“Anyone getting into the industry needs to spend money and be patient with the return. This is not something you build on today for a year and reap the profits in two years’ time,” said Alkahtani. Told.
He said: “The mining sector will give you good returns. But you need to work for at least six to 10 years until you really know what you are doing.