Golden Compass announces Thara Future Investments as strategic investor to support its transformation into a national mining services champion

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Golden Compass announces Thara Future Investments as strategic investor to support its transformation into a national mining services champion

Golden Compass for Mining Services, one of Saudi Arabia’s leading mining services and geological consultancy companies, has announced a strategic partnership with Thara Future Investments aimed at supporting its transformation into a fully integrated national mining services champion.

The agreement, revealed on 13 January 2026 during the fifth edition of the Future Minerals Forum in Riyadh, will see Thara Future Investments acquire a strategic equity stake in Golden Compass. The move is designed to support the company’s next phase of growth and long-term value creation, while reinforcing the mining sector as a core pillar of Saudi Arabia’s economy.

Golden Compass is jointly owned by Naif Alrajhi Investment and Rasi Investment. The partnership reflects a shared commitment by all parties to advance the Kingdom’s mining sector as a key driver of industrial development and economic diversification, in line with Saudi Vision 2030.

As part of the agreement, Golden Compass plans to roll out an ambitious expansion strategy to strengthen its leadership position in the mining services market. The strategy includes increased investment in infrastructure, digitalisation, and human capital, alongside the expansion and diversification of the company’s service portfolio.

Planned initiatives include the expansion of drilling rig capacity, the establishment of a specialised data centre, and the development of a state-of-the-art geochemical laboratory in partnership with a leading global analytical services provider. The company also intends to expand its heavy equipment fleet and invest heavily in training specialised Saudi talent, further positioning itself as a national partner supporting the Kingdom’s mining strategy.

Naif bin Saleh Alrajhi, Chairman and CEO of Naif Alrajhi Investment Group, said the agreement represents a strategic step that underscores the Group’s commitment to supporting the national economy through investment in the mining sector. He described mining as the third pillar of the Saudi economy and a vital contributor to diversification and local content development.

He added that the partnership will help build a leading national mining entity with strong governance and investment frameworks, while enabling expansion into high-value projects across the sector.

Eng. Meshary Al-Ali, Chairman of Rasi Investment and Founder and CEO of Golden Compass, said the entry of Thara Future Investments as a strategic partner reflects strong confidence in the company’s expansion plans and long-term vision.

According to Al-Ali, the partnership will enhance Golden Compass’ operational capabilities, allowing it to deliver fully integrated services across the mining value chain, from exploration and drilling to operations. He added that it will also create new opportunities for innovation and improved operational efficiency, supporting sustainable development within the sector.

Al-Ali reaffirmed the company’s commitment to developing a strong operational ecosystem and building highly qualified national talent capable of delivering world-class mining services, supporting Saudi Arabia’s ambition to become a regional and global mining hub.

Hisham Mohammed Attar, Co-founder and Managing Partner of Thara Future Investments, said Golden Compass has advanced capabilities that enable it to deliver a wide range of essential support services for mining operations. He noted that the partnership forms part of Thara Future Investments’ broader growth and expansion strategy within the mining sector.

Founded in 2015, Golden Compass has spent more than a decade delivering government projects and initiatives in partnership with the Ministry of Industry and Mineral Resources and the Saudi Geological Survey. The company has operated in six countries and secured multiple strategic partnerships that have supported its growth and transformation.

Today, Golden Compass is positioned as a fully integrated mining services provider in Saudi Arabia, supported by strong operational capabilities and a comprehensive range of services.