As gold prices surge to historic highs, surpassing $2,300 an ounce amid mounting geopolitical tensions and economic uncertainty, Saudi Arabia announced a major gold discovery that could further cement its position in the global mining sector.
Saudi Arabia’s state-owned mining company Ma’aden revealed the discovery of significant gold deposits spanning 125 kilometers south of the Mansourah-Massarah mine in the Mecca region. This marks the first major find resulting from the company’s intensive exploration program launched in 2022 under the Kingdom’s Vision 2030 economic diversification strategy.
Initial drill results are promising, with ore grades reaching 10.4 grams of gold per ton over 61 meters and up to 20.6 grams per ton over 20 meters—indicating a potentially rich geological reserve.
The timing of the announcement is particularly significant, coinciding with renewed investor interest in gold as a safe-haven asset. The discovery not only underscores Saudi Arabia’s mineral wealth but also supports the Kingdom’s ambitions to develop a robust, self-reliant mining industry.
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