On Thursday, Saudi Arabian Mining Company (Ma'aden) announced a potential discovery of "significant gold resources" spanning 100 kilometers south of the current Mansourah and Massarah gold mine.
Maiden Exploration Success
Ma'aden stated that this marks the first discovery from the exploration program launched in 2022, aimed at establishing a minerals production pipeline.
Focus on Mansourah and Massarah
The exploration focuses on Mansourah and Massarah, identifying potential deposits along a geological formation similar to the existing mine. Encouraging results from multiple sites reveal geological and chemical characteristics resembling those in the current mine.
High-Quality Drill Intersections
Results include high-quality drill intersections located 400 meters from Mansourah and Massarah, showcasing significant deposits, including core samples indicating 61 meters at 10.4 grams/ton of gold and 20 meters at 20.6 grams/ton.
Expansion in Exploration Footprint
Additionally, Ma'aden continues to expand its exploratory footprint in the Ghadrah Mountain and Bir Tawilah prospects, 25 kilometers north of Mansourah and Massarah, indicating potential resources of 1.5 million ounces.
Potential for a Global Gold Belt
Positive combined results indicate a potential 125-kilometer-long region with significant expectations of becoming a major global gold belt in Saudi Arabia.
Resources Extending in Depth
Proximity to Mansourah and Massarah suggests available resources in depth and across the region, hinting at a prolonged mine life through underground development.
Significance of the Discovery
This discovery represents a crucial outcome of Ma'aden's intensive exploration program launched in 2022, aligning with the company's goal to build a minerals production pipeline and contribute to the diversification of Saudi Arabia's income sources.
CEO's Perspective
Robert Wilts, CEO of Ma'aden, stated, "Last year, Ma'aden embarked on one of the largest exploration programs globally. These findings are a significant testament to the untapped mineral wealth in Saudi Arabia, supporting income source diversification in line with Vision 2030 and establishing mining as a third pillar of the Saudi economy."
Driving Growth Strategy
Wilts added, "This discovery in the new gold region is a driver for global gold rush discoveries and a key part of our growth strategy. The Arabian Shield holds immense potential requiring more world-class discoveries, and this is the first of many we anticipate in the coming years. As the largest mining company in Saudi Arabia, we are committed to developing the mining sector in the Kingdom, continuing to support its growth and resurgence."
The Rich History of Gold in Saudi Arabia
Saudi Arabia has a rich history of gold dating back thousands of years, with the Arabian Peninsula renowned for its prized gold deposits. Ancient civilizations recognized the region's gold potential, and the trade of gold along the Incense Route played a significant role in connecting Arabia to the ancient world. Today, Saudi Arabia continues to be a major player in the global gold market, with significant growth and development in its modern mining sector, driven by initiatives to diversify the economy.
Ancient Gold Mining in Saudi Arabia
Ancient gold mining in Saudi Arabia dates back thousands of years, with evidence of mining activities dating to the Pre-Islamic era. The Arabian Peninsula was a significant source of gold for ancient civilizations due to its rich deposits and strategic location along trade routes. The Nabateans, an ancient Arab civilization, were known to have mined gold in the region, particularly in the area of present-day Madinah.
The Assyrians, who conquered much of the Near East in the 8th and 7th centuries BCE, also exploited the gold resources of the Arabian Peninsula. They documented their mining activities in inscriptions, detailing the extraction of gold from rivers and mines. The Assyrians' interest in Arabian gold highlights the region's importance as a source of precious metals in antiquity.
One of the most famous ancient gold mines in Saudi Arabia is the Mahd adh-Dhahab, located in the present-day Al Madinah region. The Mahd adh-Dhahab, which means "Cradle of Gold," was a major gold mining center for the ancient Arabian Peninsula and is believed to have been in operation since at least the time of the Islamic Prophet Muhammad.
Ancient mining techniques in Saudi Arabia were varied and sophisticated, reflecting the importance of gold in the region's economy and culture. Miners used simple tools such as picks, shovels, and baskets to extract gold from surface deposits and shallow mines. They also employed more advanced methods, such as hydraulic mining, which involved directing water onto gold-bearing rocks to extract the precious metal.
The legacy of ancient gold mining in Saudi Arabia is still visible today, with archaeological sites and remnants of ancient mines scattered throughout the region. These sites serve as a reminder of the region's rich history and the important role that gold has played in shaping its past.
Modern Gold Mining and Production in Saudi Arabia
Modern gold mining in Saudi Arabia has been characterized by significant growth and development, driven by the government's efforts to diversify the economy and reduce reliance on oil. The Saudi Arabian Mining Company (Ma'aden) has been at the forefront of this expansion, playing a key role in the exploration, development, and production of gold and other minerals in the country.
Ma'aden was established in 1997 as a catalyst for the development of the mining sector in Saudi Arabia. Since then, the company has undertaken major projects to tap into the country's vast mineral resources, including gold. Ma'aden's most prominent gold mine is the Ad Duwayhi mine, located in the central Arabian Gold Region. The mine has proven reserves of over 1 million ounces of gold and is one of the largest gold mines in the Middle East.
In addition to the Ad Duwayhi mine, Ma'aden operates several other gold mines and exploration projects across the country. The company has invested heavily in modern mining technology and infrastructure to maximize production and ensure environmental sustainability. Ma'aden's efforts have helped position Saudi Arabia as a significant player in the global gold market.
Saudi Arabia's gold production has steadily increased in recent years, with the country producing over 100,000 ounces of gold annually. The government has also introduced favorable policies to attract foreign investment in the mining sector, further stimulating growth and development.
Overall, modern gold mining in Saudi Arabia has contributed to the country's economic diversification and has helped create jobs and opportunities for local communities. With its rich mineral resources and favorable investment climate, Saudi Arabia is poised to continue its growth as a major player in the global gold market.
In conclusion, Saudi Arabia has a rich history of gold mining that dates back thousands of years, with the Arabian Peninsula being a significant source of gold for ancient civilizations. The country's modern gold mining industry, led by the Saudi Arabian Mining Company (Ma'aden), has seen significant growth and development, driven by government initiatives to diversify the economy and reduce reliance on oil. Ma'aden has been instrumental in exploring, developing, and producing gold in the country, with projects such as the Ad Duwayhi mine contributing to Saudi Arabia's status as a major player in the global gold market. With its vast mineral resources and favorable investment climate, Saudi Arabia is well-positioned to continue its growth as a key player in the global gold industry.
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