Saudi Arabian Mining Company (Ma’aden) revealed a substantial discovery of gold deposits in the Makkah region, extending along a 100-kilometer stretch from the existing Mansourah Massarah gold mine. This marks the first success within Ma’aden’s intensive exploration program launched in 2022, aiming to establish a mineral production line. The discovery showcases the untapped potential of mineral resources in Saudi Arabia, aligning with Vision 2030 to diversify the country’s economy.
Ma’aden CEO Robert Wilt emphasized the significant growth potential, highlighting the Arabian Shield’s immense possibilities for world-class discoveries. The ongoing exploration aims to identify similar-sized deposits with comparable geology, with positive results indicating a potential major gold belt in Saudi Arabia.
As of 2023, the Mansourah and Massarah gold deposits boast an estimated 7 million ounces of gold resources, supporting an annual production capacity of 250,000 ounces.
In September 2022, the Geological Survey of the Kingdom of Saudi Arabia revealed the discovery of new gold and copper ore sites in the Al-Madinah Al-Munawwarah region. Saudi Arabia, holding the 18th position globally as the largest holder of gold, stands out among Arab countries for its significant reserves, according to data from the World Gold Council.