Ma’aden Boosts Saudi Gold Resources by 7.8 Million Ounces as Kingdom Advances Mining Ambitions
State-owned miner expands gold resource base across key sites, reinforcing Saudi Arabia’s strategic pivot toward mining under Vision 2030
Saudi Arabian Mining Company (Ma’aden) has significantly expanded its gold resource portfolio, announcing additions of 7.8 million ounces across four key sites as part of broader exploration and development efforts within the Kingdom’s mineral-rich Arabian Shield.
The updated estimates were released in a formal disclosure to the Saudi Tadawul exchange, marking a major milestone for Ma’aden’s resource growth strategy and supporting the government’s economic diversification goals under Vision 2030.
The new resources result from extensive drilling activities that initially delineated more than nine million ounces of mineralisation before standard reporting adjustments related to cost and commodity price assumptions were applied.
The additions span operational mines, early-stage prospects and new discoveries.
At the flagship Mansourah Massarah mine, targeted drilling delivered a net year-on-year increase of three million ounces, bolstering the deposit’s already considerable inventory.
Combined drilling at the Uruq 20/21 and Umm As Salam prospects added around 1.67 million ounces, while maiden resources totalling 3.08 million ounces were declared at the Wadi Al Jaww site.
Ma’aden’s chief executive, Bob Wilt, said the results validate the company’s long-term exploration strategy and highlight the depth of Saudi Arabia’s gold potential.
He emphasised that the robust growth in gold resources underscores the effectiveness of sustained investment in geological research and mining infrastructure, and strengthens the company’s future cash-generation outlook.
The expansion at Mansourah Massarah, which now stands at 116 million tonnes at an average grade of 2.8 grams per tonne containing 10.4 million ounces, supports both open-pit and underground development potential, with exploration indicating that mineralisation remains open at depth.
Ma’aden plans to continue drilling through 2026 to further define and expand these deposits.
In addition to gold, advanced exploration across the Central Arabian Gold Region and near historic operations at the Mahd Ad Dahab mine has revealed promising indications of copper, nickel and platinum group element mineralisation, suggesting future multi-commodity opportunities.
The company’s resource additions coincide with Saudi Arabia’s broader efforts to establish mining as a fundamental pillar of economic growth alongside energy and petrochemical sectors.
The updated estimates were released in a formal disclosure to the Saudi Tadawul exchange, marking a major milestone for Ma’aden’s resource growth strategy and supporting the government’s economic diversification goals under Vision 2030.
The new resources result from extensive drilling activities that initially delineated more than nine million ounces of mineralisation before standard reporting adjustments related to cost and commodity price assumptions were applied.
The additions span operational mines, early-stage prospects and new discoveries.
At the flagship Mansourah Massarah mine, targeted drilling delivered a net year-on-year increase of three million ounces, bolstering the deposit’s already considerable inventory.
Combined drilling at the Uruq 20/21 and Umm As Salam prospects added around 1.67 million ounces, while maiden resources totalling 3.08 million ounces were declared at the Wadi Al Jaww site.
Ma’aden’s chief executive, Bob Wilt, said the results validate the company’s long-term exploration strategy and highlight the depth of Saudi Arabia’s gold potential.
He emphasised that the robust growth in gold resources underscores the effectiveness of sustained investment in geological research and mining infrastructure, and strengthens the company’s future cash-generation outlook.
The expansion at Mansourah Massarah, which now stands at 116 million tonnes at an average grade of 2.8 grams per tonne containing 10.4 million ounces, supports both open-pit and underground development potential, with exploration indicating that mineralisation remains open at depth.
Ma’aden plans to continue drilling through 2026 to further define and expand these deposits.
In addition to gold, advanced exploration across the Central Arabian Gold Region and near historic operations at the Mahd Ad Dahab mine has revealed promising indications of copper, nickel and platinum group element mineralisation, suggesting future multi-commodity opportunities.
The company’s resource additions coincide with Saudi Arabia’s broader efforts to establish mining as a fundamental pillar of economic growth alongside energy and petrochemical sectors.
