Skip to content Skip to Search
Skip navigation

Maaden discovers ‘significant’ gold reserves in Saudi Arabia

Maaden's potential gold discovery, along a 100 km stretch, was the first under an extensive exploration programme launched in 2022 Maaden
Maaden's potential gold discovery, along a 100 km stretch, was the first under an extensive exploration programme launched in 2022

Maaden, Saudi Arabia’s flagship mining company, has discovered “significant” gold resource potential south of the existing Mansourah Massarah gold mine.

The potential find, along a 100 km stretch, was the first under an extensive exploration programme launched in 2022, the company said in a statement.

Samples showed the presence of high-grade gold deposits of 10.4 grams per tonne and 20.6 grams per tonne in two random drilling sites 400 metres from and under Mansourah Massarah, indicating a high density of gold was found in the ore tested from those locations.

In addition, Maaden continued its exploration at the Jabal Ghadarah and Bir Tawilah prospects, 25km north of Mansourah Massarah, which have a potential 1.5 million ounces of yellow metal.

“These positive drilling results have identified a potentially 125 km strike with significant potential to become a major gold belt in Saudi Arabia,” the company said.

Mansourah Massarah’s gold resources stood at almost seven million ounces by the end of 2023, with a yearly nameplate production capacity of 250,000 ounces.

“Last year, Maaden embarked on one of the largest exploration programmes in the world. These discoveries are a significant demonstration of the untapped potential of mineral resources in Saudi Arabia, supporting the country’s diversification in line with Vision 2030,” said CEO Robert Wilt.

“These discoveries have the potential to be the centre of the world’s next gold rush and are a strong part of our growth strategy. The Arabian Shield has enormous potential for more world-class discoveries, and this is the first of many we expect to make in the coming years.”

Maaden posted a net loss of SAR83 million ($22.1 million) for the third quarter of 2023, compared with a profit of more than SAR2 billion a year earlier.

The mining company is 67 percent owned by the Public Investment Fund, the kingdom’s sovereign wealth fund. It operates 17 mines and exports to more than 30 countries.

Latest articles


Dubai launches one-stop hub to streamline government services

People in Dubai can now obtain an Emirates ID, register a company, open a bank account and more under one roof following the opening of the Emirates Government Services Hub (EGSH). Owned by Sheikh Mohammed Bin Maktoum Bin Juma Al Maktoum, a member of the Dubai Royal family, EGSH allows clients to access all essential […]

In association with
Thailand's consul general Kitinai Nutakul visits the Saudi Ministry of Foreign Affairs in Jeddah

Thailand opens investment office in Saudi Arabia

Thailand’s Board of Investment (BOI) is opening its first Middle East office in Saudi Arabia, signaling a deepening of economic ties between the nations after a longstanding diplomatic spat. The office will focus on attracting Saudi investment into Thailand’s targeted industries and supporting Thai entrepreneurs looking to invest in the region, the BOI said in […]

hajj saudi arabia

Saudia reports big rise in international passengers

Saudi Arabia’s national carrier Saudia reported a 24 percent increase in international passengers to 9.1 million in the first half of 2024. There was also a 13 percent rise in the number of flights. The Hajj pilgrimage in June played a large part in the growth.  The number of passengers flying on domestic routes rose […]

renewables target dam

World is off track to meet Cop28 renewables goal

The world is far from reaching its 2030 renewables target, the International Renewable Energy Agency (Irena) said on Thursday. Countries committed at the Cop28 summit in Dubai last year to treble renewables capacity in order to limit global warming to 1.5C. To stay on course global capacity growth needs to accelerate to a minimum rate […]