Politics & News

8 new mines in Saudi Arabia in the final stages of starting production

The general manager of the Golden Compass Company for Mining Consultations in Saudi Arabia, Mashari Al-Ali, said in an interview with Al-Arabiya, Tuesday, that there are about 8 new mines in Saudi Arabia that are in the final stages of starting production.


Al-Ali added that there are many reserves that have been announced in the Kingdom, especially gold mines and copper ore, as well as many raw materials that are used in manufacturing industries.


He explained that there are many investment opportunities in the field of mineral exploration in Saudi Arabia.


The Saudi mineral exploration sector has witnessed a new start in the past years, after the comprehensive assessment of the mineral potential that it implemented in cooperation with international consulting companies in 2016.


The Saudi Ministry of Industry and Mineral Resources launched competitions for 5 metal detection sites, and two sites were awarded last year in Al-Kheniyyah and Umm Al-Damar.


The ministry has also identified sixty investment opportunities in the sector, and many other opportunities are expected to be identified in the coming years.


There are 6 mines whose production volume in 2020 of gold reached 435 thousand ounces, and this number will increase significantly in the coming years, with the influx of investments into this sector.


The mines include the “Al-Duwayhi” mine in the Makkah Al-Mukarramah region, from which production began in 2016, and it is the largest gold-producing mine in Saudi Arabia today, with a production volume of approximately 250,000 ounces in 2020.


There are 5 other smaller mines, and they are the “Al-Amar” mine west of Riyadh, the “Bulghah” mine in Medina, the “Sakhirat” mine in Al-Qassim, the “Mahd Al-Dahab” mine in Medina, the “Al-Souq” mine in Makkah Al-Mukarramah.


Saudi Arabia is working to establish 6 other mines, the largest of which is the “Al-Mansoura and Al-Masra” mine, which is being developed by the “Maaden” company in the Makkah Al-Mukarramah region, with investments exceeding 4 billion riyals, and its production is expected to reach 250 thousand ounces of gold annually, which contributes to an increase Saudi production of gold by more than 50%.


Saudi Arabia also owns other mines apart from gold, most notably:


The Jabal Sayid mine, which is a large underground copper mine, is being developed as part of a 50% joint venture between Ma’aden and the Canadian company Barrick. The mine was commissioned in mid-2016.


– Al Jalamid Phosphate Mine, which produces about 10 tons of ore annually, and includes an extraction plant with a production capacity of 5 tons of phosphate concentrates that are transported by rail to Ras Al Khair for processing in the ammonium fertilizer plant.


– The “Khabra Phosphate” mine, which produces 12 tons of phosphate ore annually, is to be processed and transferred to Waad Al-Shamal Industrial City.


– Al-Baitha mine, which is the only mine in the Middle East that produces bauxite ore, which is used in the first refinery in the Gulf for alumina, which is the primary material used in the production of aluminum.


– “Wadi Al-Sawaween” mine, which is one of the major iron mines in the Tabuk region.


The mining boom awaits a new phase after the approval of the new mining investment system, with successive granting of exploration and mining licenses from the Ministry of Industry and Mineral Resources.

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