Today (Thursday), the Geological Survey of Saudi Arabia announced the discovery of gold and copper ore in the Al-Madina Al-Munawwarah region, western Saudi Arabia.
The Survey and Mineral Exploration Center in the Commission succeeded in discovering gold within the boundaries of Aba Al-Raha (the shield of Umm Al-Barrak, the Hijaz region) in the Al-Madinah Al-Munawwarah region. , and ways of hosting them inside rocky outcrops inside quartz veins that belong to sulphides.
These discoveries, according to the statement of the Saudi Authority, are an important event in that region, and constitute a natural extension of the Nakasib seams on the other side of the Red Sea in the Arab Nubian Shield during 2022, and will accelerate the pace of mining investment in the Kingdom, and support the vision and the national economy in revealing more These sites to bring in investors.
These discoveries in various locations in Saudi Arabia will contribute to the development of the national economy, with the influx of local and international investors in the mining sector in its various tracks, especially that there are 13 individual Saudi and foreign companies, and within the framework of conglomerates competing to win a license for the Umm al-Damar mining site located in the Medina region.
According to the latest estimates, the underground gold reserves are estimated at 323.7 tons, and according to the reports of the Ministry of Industry and Mineral Resources, there are great possibilities for the presence of gold in 12 sites of mineral reserves for gold ore, and these sites are currently witnessing investment work by a number of local and international companies. , while the number of factories producing gold and silver bullion in the Kingdom is about 6 factories, with an investment volume exceeding 7 billion riyals, while the Ministry of Industry and Mineral Resources issued about 477 gold ore detection licenses, and the number of licenses issued to the gold sector is about 15, some of which have started operations production, others are under development.
The volume of production of copper and zinc concentrates reached 68 thousand tons annually, and about 24.6 million tons of phosphate ore annually, as it is processed to produce about 5.26 million tons of phosphate fertilizers annually, at a time when Saudi Arabia is among the top 5 producers of phosphate fertilizers.
