RIYADH: Saudi Arabia’s Astra Mining plans to add four more factories in the next five to seven years with an investment that can reach up to SR1.2 billion ($319 million), revealed the company’s CEO.
In an exclusive interview with Arab News on the sidelines of the Future Minerals Forum in Riyadh, Ali Al-Jabrah said the company has land measuring 92,000 square meters which can take up to five factories.
“Of course, this will help in efficient production and cost reduction because we will use the same resources, management, and general cost in the same location,” he said.
Founded in 2011, Astra Mining currently operates out of a factory in Al Kharj Industrial City which produces calcium oxide, calcium hydroxide, and dololime.
He disclosed that the expansion plans will require an investment ranging from SR800 million to SR1.2 billion, in addition to the amount invested so far.
The company’s expansion will also allow it to introduce new product lines that will depend on the mineral resources provided.
“Acquiring the mines is already under process. We have more than 30 mining applications, some of them have already started operations while others are still under exploration, study, and analysis,” Al-Jabrah said.
The CEO explained that the main activator for the company’s plans is not just financial resources but also human capital.
“The main readiness is not just financial readiness but also, as you know, the human resource and utilizing Saudi skills in order to operate these upcoming factories,” Al-Jabrah said.
Astra Mining was producing 100,000 metric tons of industrial minerals yearly since its inception and has just expanded to 280,000 metric tons per year.
He added that the company signed an agreement during the Future Minerals Forum with the Mining Academy in Turaif to Saudize all technical positions in Astra Mining.
Al-Jabrah further stated that the company already has a large number of Saudi employees and women working in all departments.
The Future Minerals Forum is being held in Riyadh from Jan. 10 to Jan. 12, with an estimated 200 speakers from around the world expected to attend the event.
The forum is set to tackle several topics, including sustainability, the future of mining, energy transition, the contribution of minerals to the development of societies, digital transformation, and integrated value chains.
