While the price of gold records historical records and imposes itself more than ever as a refuge value in the face of geopolitical and economic uncertainties, Saudi Arabia announces a major gold discovery.
The Saudi mining company (Ma’aden) revealed the discovery of large quantities of gold extending over 125 kilometers south of the Mansoura and Massarah mine, located in the Mecca region. This discovery, the first major from the intensive exploration program launched by Ma’aden in 2022, is part of the “Vision 2030” strategy whose objective is to diversify the Saudi economy beyond hydrocarbons.
The first results are promising, with contents reaching 10.4 g of gold per tonne over 61 meters, and even 20.6 g/t over 20 meters, suggesting an exceptional geological potential.
This announcement occurs at a strategic moment, while gold exceeds $ 2.300, strengthening its position of refuge in the face of global tensions and persistent inflation. Beyond the strategic interest, this discovery could allow Riyadh to strengthen its autonomy in mining resources and to establish itself as a key player in the global gold sector.
