Saudi Arabia Strikes Gold: Additional 221 Tons of Gold Reserves Confirmed

Ma'aden, State-Owned Mining Company,
Confirms Additional 7.8 Million Ounces (221 Tons) of Gold Reserves

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A large-scale additional gold reserve has been discovered in Saudi Arabia, the world's largest oil producer.

According to Mining.com and other sources on January 12 (local time), Ma’aden, a subsidiary of the Saudi sovereign wealth fund Public Investment Fund (PIF) and a state-owned mining company, announced that it had newly detected gold reserves totaling 7.8 million ounces (221 tons) across four major regions, including operating mines and early-stage discovery sites. The regions where additional gold reserves have been identified are Mansourah-Massarah, Uruq 20/21, Umm Ash Salam, and Wadi Al-Jaw.

Among these, the reserves at the Mansourah-Massarah mine increased by 3 million ounces compared to the previous year. The current reserves at Mansourah-Massarah amount to 116 million tons with a gold grade of 2.8 grams per ton, totaling 10.4 million ounces (294 tons). An additional 1.6 million ounces were discovered in the Uruq and Umm Ash Salam regions, while the Wadi Al-Jaw region confirmed reserves of 3.08 million ounces for the first time. In addition, a new gold vein was discovered in the northern Ar Rjum area.

Ma’aden emphasized that these results demonstrate the company’s swift and systematic efforts to establish a gold growth pipeline led by the Kingdom of Saudi Arabia. Ma’aden CEO Bob Wilt stated that these outcomes are the reason for the company’s continued substantial investment in gold drilling and development.

The company explained that, based on drilling results so far, there is a high possibility that additional reserves will continue to be found in the deeper sections of the Mansourah-Massarah mine. Ma’aden regards the development of gold and other mineral resources as a key pillar of Saudi Arabia’s ‘Vision 2030’ and plans to continue drilling and exploration work through 2026.