Saudi Mining Company (Ma’aden), the largest mining firm in the Gulf Cooperation Council (GCC), has announced groundbreaking discoveries of recoverable gold and copper deposits in the Shayban region of the Arabian Shield. These findings mark a significant milestone in Saudi Arabia’s Vision 2030 strategy to diversify its economy and reduce reliance on oil revenues.
Promising Mineralization at Shallow Depths
Initial assays reveal extensive gold mineralization at Wadi Al Jaww and combined gold-copper mineralization at Jabal Shayban. The mineralization occurs at shallow depths of 20 to 200 meters, with indications of deeper and widespread extensions13. Ma’aden emphasized that the exploration remains in its early stages, and further drilling activities are planned for 2025 to assess the full potential of these deposits.
Ma’aden, backed by the Public Investment Fund (PIF), operates 17 mines across the Kingdom and aims to expand its operations tenfold by 2040. The company’s recent discoveries align with its strategy to position Saudi Arabia as a global mining hub110. CEO Robert Wilt highlighted the Arabian Shield’s untapped potential, stating that these findings could catalyze further world-class discoveries.
Building on Previous Successes
This announcement follows Ma’aden’s 2023 discovery of significant gold resources along a 100-kilometer stretch near the Mansourah Massarah gold mine. The company has also identified high-grade gold deposits at depths of up to 220 meters, reinforcing the region’s potential for underground mining operations.
While the financial impact of the latest discoveries remains undetermined, Ma’aden’s efforts underscore Saudi Arabia’s commitment to unlocking its $1.3 trillion mineral wealth. The Kingdom seeks to triple the mining sector’s contribution to GDP by 2030, making it a cornerstone of economic diversification.
A Vision for Sustainable Growth
Moreover, Ma’aden’s exploration program, one of the largest single-jurisdiction initiatives globally, reflects Saudi Arabia’s ambition to become a leader in sustainable mining. The company adheres to international environmental, social, and governance (ESG) standards, ensuring responsible resource extraction.
These discoveries not only highlight the Arabian Shield’s geological richness but also reinforce Saudi Arabia’s position as a rising force in the global mining industry. With ongoing exploration and strategic investments, Ma’aden is driving the Kingdom’s transformation into a mining powerhouse.
