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It’s Time For Some Saudi Bling As Heavy Deposits Of Gold Discovered In Mecca!

Saudi Arabia Unveils Significant Gold Resource Potential in Milestone Discovery.

by Deeplata Garde
It’s Time For Some Saudi Bling As Heavy Deposits Of Gold Discovered In Mecca!

In a groundbreaking revelation, Saudi Arabia has officially disclosed the discovery of a “significant gold resource potential” within the Kingdom. The announcement, made by the Saudi Arabian Mining Company (Ma’aden) on December 28, sheds light on a newfound gold reserve that extends across an impressive 100-kilometer stretch, starting from the existing Mansourah Massarah gold mine.

Ma’aden’s Exploration Programme

This momentous discovery marks the initial success of Ma’aden’s intensive exploration program launched in 2022. The program, aimed at establishing a robust mineral production line, underscores the untapped potential of mineral resources in Saudi Arabia. Robert Wilt, the CEO of Ma’aden, highlighted the significance of these discoveries in supporting Vision 2030’s goals, emphasizing the role of mining as the third pillar of the Saudi economy.

Wilt emphasized the enormous potential residing in the Arabian Shield, envisioning it as a potential epicenter for the world’s next gold rush. He expressed confidence in multiple discoveries anticipated in the coming years, positioning this recent revelation as the pioneer among many to follow. The ongoing exploration around Mansourah Massarah aims to identify deposits with similar geological characteristics, evident in positive drill results from sites in Uruq South.

Expansion and Future Prospects With Ma’aden’s Strategic Moves

Ma’aden is strategically expanding its exploration efforts at Jabal Ghadarah and Bir Tawilah prospects, situated 25km north of Mansourah Massarah. Positive drilling results have unveiled a promising 125km strike with the potential to transform into a major world-class gold belt in Saudi Arabia.

As of 2023, Mansourah and Massarah boasted an estimated 7 million ounces of gold resources, with an annual production capacity of 250,000 ounces. This latest discovery adds substantial weight to Saudi Arabia’s standing as the 18th largest holder of gold globally, leading Arab countries in gold reserves, according to the World Gold Council.

Also Read: All You Need To Know About Diriyah Nights, Saudi Arabia

Paving the Way for Saudi Arabia’s Mining Future

The recent gold discovery signifies a pivotal moment in Saudi Arabia’s mining landscape, positioning the country as a key player in the global gold market. As Ma’aden continues its ambitious exploration program, the Kingdom’s mineral wealth holds the promise of reshaping its economic landscape and contributing significantly to the objectives outlined in Vision 2030.

Cover Image Courtesy: Canva Stock Images

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First Published: December 30, 2023 3:05 PM