Apart from oil resources, the Kingdom of Saudi Arabia enjoys a huge amount of mineral resources, as the size of the mining sector in 2021 amounted to about 83 billion riyals (about 22 billion dollars), according to the Deputy Minister of Industry and Mineral Resources for Mining Affairs, Khaled Al-Modefer.
Al-Mudaifer added, according to what was reported by the official Saudi Press Agency that “gold in the Kingdom dates back to 3,000 years, and constitutes 18% of the Kingdom’s mineral wealth, with revenues of between 3 and 4 billion riyals, and a production volume of about 400,000 ounces of gold.”
Al-Mudaifer indicated that “gold is found in 6 operating mines: Mahd Al-Dahab, Balgha, Sukhaybarat, Al-Duwaihi, Al-Suq, and Al-Amar. The Kingdom is working to establish 6 mines, including the Mansoura and Al-Masra mine, with investments exceeding 4 billion riyals, and it will be the largest mine in the Kingdom, to achieve the objectives of the mining strategy that aims To raise gold revenues to reach 15 billion riyals.
Al-Mudaifer highlighted that “the kingdom’s mineral wealth, estimated at 5 trillion riyals, varies between phosphates, gold, copper, zinc, and rare earth minerals such as tantalum, nabium, and aluminum.”