Massive 7.8 million ounces of gold discovered in Saudi Arabia

Saudi Arabia's mining company Maaden has found 7.8 million ounces of gold resources at four locations across the Kingdom, marking a significant step in its efforts to grow local mineral reserves and strengthen its gold business.

The newly identified resources are spread across Maaden’s major operations at Mansourah Massarah, Uruq 20/21, Umm As Salam and the recently identified Wadi Al Jaww discovery.

Mansourah Massarah accounted for the biggest increase, with resources rising by three million ounces compared to last year. Uruq 20/21 and Umm As Salam together added 1.67 million ounces, while Wadi Al Jaww recorded an initial gold resource of 3.08 million ounces.

Maaden chief executive Bob Wilt said the latest figures reflect the company’s long-term approach to developing Saudi Arabia’s mineral potential and expanding its global footprint in mining.

“The results leave no doubt that the company’s long-term strategy is working on the ground. This is exactly why we continue to invest heavily in Saudi Arabia’s gold endowment,” he said.