Tuesday, March 5, 2024

‘Significant’ Gold Discovery Made in Saudi Arabia

Saudi Arabian Mining Company (Ma’aden), the prominent mining company in the Arab world, has shared exciting news about a substantial discovery of gold resources in Saudi Arabia.

This discovery spans a 100-kilometer stretch near the existing Mansourah Massarah gold mine. Notably, this marks the initial success from Ma’aden’s extensive exploration program initiated in 2022.

The significance of this discovery aligns with Saudi Arabia’s Vision 2030, which focuses on unlocking the potential of untapped mineral resources and positioning mining as a vital contributor to the economy.

Ma’aden, largely owned by the Public Investment Fund, plays a crucial role in Saudi Arabia’s mining sector. The company aims to grow tenfold by 2040, contributing significantly to economic diversification.

The exploration efforts around Mansourah Massarah have yielded promising drill results, indicating the potential for a major gold belt in Saudi Arabia on a global scale.

Ma’aden remains committed to expanding its exploration activities in various prospects, reinforcing its pivotal role in shaping the future of Saudi Arabia’s mining industry.

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