2023-12-29 00:08:57
The Saudi Arabian Mining Company “Ma’aden” announced the discovery of a huge area extending over a distance of 125 km that contains rich gold resources.
This discovery is considered the first within the intensive exploration program that the company began in 2022.
“Maaden” said in statement Journalist: The discovery is concentrated in the areas of “Mansoura and Masra”, where the results of exploration revealed extended “veins” of gold.
The results indicate that they reveal “a major gold belt of international standards in Saudi Arabia,” and the volume of gold resources is expected to reach regarding 7 million ounces, with a production capacity of up to a quarter of a million ounces annually.
Ma’aden’s CEO, Robert Wilt, said, “Last year, Ma’aden was engaged in one of the largest exploration programs in the world. These discoveries are important evidence of the untapped potential of Saudi Arabia’s mineral resources,” according to the statement.
He added that these discoveries “support diversification in sources of income in line with Vision 2030 and consolidate mining as a third pillar of the Saudi economy.”
Ma’aden operates seven gold mines in addition to a copper mine, and during the year 2022 it produced more than 335 ounces of gold.
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