AMAK joins Industrial Sector Competitiveness Program

Almasane Alkobra Mining Co. (AMAK) joined the Industrial Sector Competitiveness Program by signing an agreement, which includes providing several solutions to help improve the efficiency and types of energy sources used in industrial facilities.

The program will contribute to reducing the company’s production costs, AMAK said in a Tadawul statement today, March 13.

As a result, the direct financial impact on the cost of sales will decrease from a previous increase of between 2.5% and 3% to an increase of 1% only.

The financial impact will be reflected in Q1 2025 results, AMAK added.

The move would lead to a 2.5% rise in production costs, according to Argaam data.