Saudi Mining Reveals Major 100km Gold Deposit Discovery in the Kingdom
- Publish date: Friday، 29 December 2023
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The Saudi Arabian Mining Company (Ma'aden), the leading mining entity in the Arab world, has revealed a noteworthy gold resource potential within the kingdom. The discovery, stretching over 100km Mansourah Massarah gold mine, represents the initial success of Ma'aden's expansive exploration initiative launched in 2022 to boost its production pipeline.
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Untapped Potential for Growth
According to Robert Wilt, the Chief Executive of Ma'aden, these findings underscore the untapped potential of mineral resources in Saudi Arabia. The discoveries align with the country's Vision 2030, aiming to diversify its economy and establish mining as the third pillar of economic growth. Wilt envisions these findings as a significant factor in the nation's broader growth strategy and a potential catalyst for a global gold rush.
Mansourah Massarah Overview
With nearly seven million ounces of gold resources as of 2023, Mansourah Massarah stands as a cornerstone in Ma'aden's portfolio. The mine boasts a nameplate production capacity of 250,000 ounces annually.
As the largest mining company in Saudi Arabia, Ma'aden remains at the forefront of sector development, pledging continuous support for growth and evolution.