SGS announced a joint venture (JV) agreement with Golden Compass, one of Saudi Arabia’s largest exploration and mining consultancy and service providers, to open and operate a new geochemistry laboratory in Saudi Arabia. This lab will provide sample preparation and geochemistry analysis to the mining and minerals industry in the country.
Saudi Arabia has committed to the development of the mining and minerals industry, as part of its Vision 2030. The country is home to a largely unexplored landmass, with geological resources estimated to exceed $2.5 trillion. More than 48 minerals have been identified, including base metals, precious metals, industrial minerals and rare earth elements.
The new commercial laboratory will support the country’s growing mining ambitions and ensure that local explorers and mining operators have access to world class testing services. The JV will maximize the strengths of SGS’s analytical experience and services across the mining lifecycle, in addition to Golden Compass’s mining operations and drilling and exploration consultancy services.
“We are excited to build on SGS’s established presence in Saudi Arabia by adding geochemistry services, especially at a time when there is significant growth in the mining and minerals industry,” said Lawrence Ng, global vice president, geochemistry at SGS. “Together with our joint venture partner, we look forward to helping exploration and mining companies identify, quantify and realize the full potential of their mineral deposits.”
The new SGS laboratory will be located in Jeddah and is expected to open in Q4 2024. It will provide sample preparation, including drying, crushing, pulverizing and sieving; fire assays with AAS and gravimetric finish; multi-element testing ICP-OES ICP-MS Carbon; and sulphur analysis This lab will have the latest equipment and follow SGS’s strict quality assurance and quality control standards to maintain the same high level of analysis expected of SGS worldwide.
“This investment will contribute to achieving SGS – Golden Compass investment goals to support and enhance local content by localizing some mining services,” said Meshary AlAli AlDehashi, CEO of Golden Compass. “This will help realize the goals of Saudi Vision 2030, which focuses on transforming the kingdom into a major mining hub.”
