SGS, a global leader in inspection, verification, testing, and certification services, has announced a groundbreaking joint venture agreement with Golden Compass, one of Saudi Arabia’s most prominent exploration and mining consultancy firms. This partnership aims to establish and operate a cutting-edge geochemistry laboratory in the heart of Saudi Arabia to cater to the burgeoning mining and minerals industry in the country.
The new lab will offer a comprehensive range of services, including sample preparation and geochemistry analysis, to support the local mining sector as Saudi Arabia continues its push for economic diversification under Vision 2030. With the kingdom’s vast untapped geological resources estimated to be worth over US$2.5 trillion, there is immense potential for growth and development in the mining and minerals sector.
Lawrence Ng, Global Vice President of Geochemistry at SGS, expressed his enthusiasm for the collaboration, stating, “We are excited to expand SGS’s footprint in Saudi Arabia by providing essential geochemistry services to meet the growing demands of the mining industry. Together with our partners at Golden Compass, we are dedicated to helping exploration and mining companies unlock the full potential of their mineral deposits.”
This state-of-the-art commercial laboratory, set to open in Jeddah in the fourth quarter of 2024, will be equipped with the latest technology and adhere to SGS’s rigorous quality control standards. Meshary AlAli AlDehashi, CEO of Golden Compass, highlighted the significance of this investment in supporting local content and advancing Saudi Arabia’s vision of becoming a leading mining hub.
The establishment of this joint venture signifies a pivotal moment in the development of Saudi Arabia’s mining and minerals industry, paving the way for enhanced exploration and extraction capabilities with world-class testing services at their disposal.
