Cost Engineer

Wood; Riyadh; On-site; SAR 200,000 - 300,000; Full time

Job summary

A global engineering company is currently seeking a Cost Engineer to support a strategic gold mining project in Saudi Arabia. The ideal candidate will have 5-10 years of experience in cost estimation within the mining industry and hold a relevant engineering degree. Responsibilities include preparing cost estimates, monitoring budgets, and conducting feasibility analyses. The position offers various benefits, including medical insurance, professional development programs, and a supportive work environment focused on diversity.

Benefits

Medical Insurance

Employee Assistance Programme

End of Service Gratuity

Career Development Champions

Qualifications

• 5-10 years of experience in cost estimation and management in the mining industry.
• Knowledge of financial analysis and economic modeling.
• Strong understanding of mining operations and equipment.

Responsibilities

• Prepare detailed cost estimates for the mining project phases.
• Monitor and control project costs to align with budget.
• Conduct economic evaluations for project viability.

Skills

Cost estimation techniques

Communication skills

Analytical skills

Problem-solving skills

Financial analysis

Education

Bachelor’s degree in engineering or related field

Master’s degree or advanced certifications in relevant fields

Tools

SAP

Primavera

CostX

Job description

Job Overview

Remarkable people, trusted by clients to design and advance the world. Wood is currently seeking a Cost Engineer to support our Projects business. Ma’aden is executing a strategic project to develop a new gold mine and processing facility in alignment with the Kingdom’s Vision 2030 and Ma’aden’s 2040 Strategic Objectives. Located in Ar Rjum, KSA.

Benefits

• Medical Insurance – Ensures specialist care is available to you and eligible family members residing in country. Pre‑existing medical conditions are covered. No limit on number of children covered under the policy however age and coverage limits apply in line with KSA CCHI rules. Option to select higher medical cover payable at employees own expense.
• Employee Assistance Programme – Allows you to feel comfortable knowing that you or your immediate family members can confidentially discuss any work or personal issues that are an inevitable part of life. The programme helps support your mental, physical, social & financial well‑being.
• GOSI (Social Insurance) – Payable to KSA employees, social insurance contributions are paid by the company in line with Government legislation to cover occupational hazards.
• End of Service Gratuity – In line with KSA Labour Law, all employees are eligible for an End of Service benefit.
• Examination Leave – Upon company approval to enroll in an education institute or to continue within such institution, employees have the right to fully paid leave to sit for an examination of an unrepeated year. Leave duration is based on the days of actual examination and must be applied for no less than fifteen days prior exam.
• Professional Memberships – One professional membership, registration, subscription, certification and / or licence cost per annum for all active Wood employees. The membership must be relevant to the role you are currently employed in or be part of a development plan. Reimbursement should be claimed via the expenses procedure system, with supporting evidence.
• Inspire Awards – Our annual awards programme is all about recognising and celebrating our inspirational colleagues – those designing the future, upholding our values and playing a pivotal role in delivering our strategy. Employees can recognise those who inspire them and make their day by nominating them for their hard work, innovation and tenacity.
• Long Service Award – Wood values the commitment and loyalty of our people. Celebrating Long Service provides an opportunity for the business to demonstrate their appreciation of the hard work, dedication and many years’ service of our employees at five‑year service milestones.
• Career Development Champions – Prioritises structured growth through goal setting and resource utilisation. Employees use tools for planning and feedback, with managers actively coaching and mentoring to support advancement. Continuous learning and development are emphasised to help employees achieve their career goals effectively.

Responsibilities

• Cost Estimation and Budget Development – Prepare detailed cost estimates for all phases of the mining project, including exploration, development, extraction, processing and reclamation.
• Capital and Operating Cost Control – Monitor and control project costs related to mining equipment, infrastructure, labour, materials and consumables to ensure alignment with the approved budget.
• Financial Modeling and Feasibility Analysis – Conduct economic evaluations, including life‑of‑mine (LOM) cost modelling, to assess project viability and support decision‑making.
• Tendering and Contract Management – Assist in preparing tender documents for mining equipment, services and construction contracts; evaluate bids and negotiate terms to optimise costs.
• Cost Tracking and Variance Analysis – Track actual expenditures against budgets, analyse variances and implement corrective actions to prevent cost overruns.
• Risk and Contingency Management – Identify potential financial risks specific to mining operations (e.g. fluctuating commodity prices, environmental compliance costs) and develop contingency plans.
• Change Order Evaluation – Assess the financial impact of design changes, scope modifications or unforeseen site conditions, and process change orders accordingly.
• Reporting and Documentation – Prepare regular financial reports, forecasts and cost status updates for project stakeholders, ensuring transparency and accuracy.
• Procurement Support – Support procurement activities by analysing supplier quotes, negotiating pricing and ensuring cost‑effective purchasing of mining equipment and materials.
• Regulatory and Environmental Cost Compliance – Ensure costs associated with environmental permits, reclamation, and regulatory compliance are accurately estimated and monitored.
• Coordination with Multidisciplinary Teams – Work closely with geologists, mining engineers, environmental specialists and project managers to ensure cost data reflects project realities.

Qualifications

• Educational Background – Bachelor’s degree in engineering (Mining, Civil, Mechanical or Electrical Engineering), Quantity Surveying, Construction Management or related field. Master’s degree or advanced certifications (preferred but not mandatory) in Mining Engineering, Cost Engineering or Business Administration.
• Professional Certifications – Certified Cost Engineer (CCE) or Certified Cost Professional (CCP) from AACE International. Project Management Professional (PMP) certification (beneficial). Certifications in risk management or environmental management are advantageous.
• Technical Skills – Strong knowledge of cost estimation techniques and project budgeting. Familiarity with mining operations, processes and equipment. Proficiency in cost management software (e.g. SAP, Primavera, CostX or equivalent). Understanding of financial analysis, economic modelling and feasibility studies. Knowledge of environmental and regulatory compliance costs relevant to mining.
• Soft Skills – Excellent analytical, problem‑solving and decision‑making skills. Strong communication and report‑writing abilities. Ability to work effectively in multidisciplinary teams. Attention to detail and high level of integrity and professionalism.
• Years of Experience – Minimum of 5‑10 years of experience in cost estimation, control and management within the mining industry. Proven experience with gold mining projects or similar resource extraction projects. Experience with large‑scale capital projects including infrastructure, processing plants and equipment procurement.

Diversity Statement

We are an equal opportunity employer that recognises the value of a diverse workforce. All suitably qualified applicants will receive consideration for employment on the basis of objective criteria and without regard to the following (which is a non‑exhaustive list) : race, colour, age, religion, gender, national origin, disability, sexual orientation, gender identity, protected veteran status, or other characteristics in accordance with the relevant governing laws.

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