Saudi mining company Almasane Alkobra Mining Company (AMAK) said it has completed the incorporation of a wholly owned drilling and exploration services subsidiary, marking a further step in expanding its mining support capabilities.

In a filing to the Saudi Stock Exchange, the company said it had finalized the incorporation procedures and obtained the bylaws and commercial registration certificate for Advance Drilling Company, a Simplified Joint Stock Company wholly owned by AMAK.

The new subsidiary has been established with an issued capital of SAR 40 million ($10.7 million) and an authorized capital of SAR 100 million. It will specialise in drilling and exploration services as well as related support activities.

AMAK said the commercial registration for the company was issued on May 21, 2026.

The development follows an earlier announcement in January in which the company's board of directors approved the establishment of a dedicated drilling and exploration services business.

The move is expected to strengthen AMAK's operational capabilities by providing specialized drilling and exploration services that support mining activities and future resource development.

Advance Drilling Company will operate as a 100%-owned subsidiary of AMAK. - TradeArabia News Service