Facts About New Saudi Gold, Copper Reserves Discovery in Madina

A few days ago, stunning news from Saudi Arabia broke when the country found new gold and copper ore resources near Madina. Here are some crucial details concerning the recent significant discovery:

1. Within the Aba Al-Raha, Umm Al-Barrak Hejaz, which is in the vicinity of Madina, gold resources were found.

2. Saudi Geological Survey (SGS) revealed that they discovered copper ore sources at four sites in the Al-Madiq region, which is located in Madina, in addition to a new source of gold.

3. From the scattered mineral chalcocite (Cu2S) and some secondary copper carbonate minerals, these discoveries show the exciting potential for unique copper deposits.

4. This exciting finding is anticipated to bring in local and foreign investment of up to $533 million, which will surely help the Kingdom of Saudi Arabia’s economy by boosting the mining industry.

5. According to Saudi Minister of Industry and Mineral Resources Khalid Al-Mudaiger, the Kingdom would draw more than $8 billion in international investment into the mining sector.

6. By the end of the decade, Saudi Arabia hopes to attract $170 billion in investments into the mining industry.

7. The value of the minerals in the Kingdom is over $1.3 trillion.

The Saudi Vision 2030 program aims to transition the nation to a diversified economy independent of oil. More mineral exploration in Arab country has long been a goal of the kingdom.



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