Saudi Arabia has recorded significant new gold reserves discoveries at four strategic locations across the country, adding more than 7 million ounces to its gold resources identified to date.
The discoveries are the result of new exploration activities and ongoing targeted drilling.
State-owned mining company Maaden announced that its latest exploration campaign has contributed an additional 7.8 million ounces of gold.
The discoveries include operational mines, early-stage prospect areas and new sites that have not previously been explored in Saudi Arabia.
The additional gold resources were obtained as a result of targeted drilling at four main locations.
The Mansourah Massarah mine contributed about 3 million ounces of gold compared to the previous year, while the Uruq 20 and Umm As Salam prospects combined contributed about 1.67 million ounces. Meanwhile, the Wadi Al Jaww area is estimated to contain 3.8 million ounces of gold.
Maaden also reported that further drilling in the Central Arabian Gold Region has identified new mineral zones with high potential.
In addition, drilling activities near the historic Mahd gold mine have expanded the potential of the existing resource envelope, opening the way for further evaluation regarding the extension of the mine’s operational life.
Overall, these discoveries solidify Saudi Arabia’s position as a key player in the regional gold mining sector, in line with the country’s long-term strategy to diversify its economy and increase the contribution of the non-oil sector to national economic growth.
