16 Jan 2025
JEDDAH: Saudi Arabia has announced significant gold and copper discoveries in the Arabian Shield region, a move set to bolster its global mining ambitions and strengthen the country’s economic diversification efforts.
The Saudi Arabian Mining Co., or Ma’aden, revealed the discoveries during the Future Minerals Forum 2025, held from Jan. 14-16 in Riyadh.
The finds include extensive gold deposits at Wadi Al-Jaww for gold and copper deposits at Jabal Shayban, with mineralization extending deeper and in multiple directions from shallow depths of 20 to 200 meters.
Bob Wilt, CEO of Ma’aden, highlighted the company’s aggressive exploration efforts, calling them part of “the world’s largest single-jurisdiction mineral exploration programs.”
“Through the work we have undertaken in recent years, the raw prospectivity of the Kingdom has been proven. The results announced today provide a further boost as we continue to accelerate drilling activities across our exploration program in 2025,” he said.
Wilt said the Kingdom’s focus on mining aligns with its broader economic transformation goals, creating opportunities for growth and development in the sector.
The company said that Jabal Shayban has long been recognized as a key exploration site, with programs dating back to the 1940s. In contrast, Wadi Al-Jaww represents a new frontier, as no prior exploration has been conducted there.
While Ma’aden didn’t provide specific estimates on the size and quality of the mineralization, the company said that ongoing analysis and drilling efforts would refine its understanding of the deposits throughout 2025.
Ma’aden announced new findings from its Mansourah-Massarah gold mine. Drilling has revealed high-grade gold mineralization below the current pit design and significant underground potential. Recent results include intercepts such as 61 meters grading at 10.4 g/t gold and 20-meter grading at 20.6 g/t gold within 400 meters of the mine.
The results build on earlier success at the mine, with Ma’aden noting strong growth opportunities from both open-pit and underground operations.
In a statement to the Saudi Stock Exchange, Ma’aden clarified that the financial impact of these discoveries remains undetermined. The company reaffirmed its commitment to transparency, promising to update shareholders on any significant developments.