Huge Gold mine Discovered in Mecca Region. A huge gold mine has been discovered in the holy city of Mecca in Saudi Arabia. The discovery of this gold mine, which is spread over 125 kilometers, is seen as one of the most important mineral discoveries in the country’s history.
Saudi government-owned mineral exploration company Maaden said that recent exploration in the southern part of the Mansura-Masara mine has detected the presence of high levels of gold. Analysis of drill samples taken in the laboratory showed that up to 20.6 grams of gold per ton of soil was found, which is considered very rich by international standards.
Maaden CEO Robert Wiley said, “This discovery will reintroduce Mecca to the global gold map. It is not only promising for the Saudi economy, but will also play a major role in technological development.”
Experts say that this discovery will help expand underground mining, prolong mining operations and create a world-class ‘gold belt’. According to them, the region could be the site of a world-class gold belt, which could make Saudi Arabia one of the world’s largest gold producers in the future.
The Mansoura-Masara mine currently holds an estimated 7 million ounces of gold, and produces about 250,000 ounces of gold annually.
The new discovery is part of Saudi Arabia’s Vision 2030 strategy, which aims to reduce its dependence on oil and establish minerals, technology and renewable energy as the basis of the national economy. The mine is expected to create thousands of jobs, billions of dollars in foreign investment and further increase Saudi Arabia’s influence in the global gold market.
Saudi Minister of Industry and Mineral Resources Bandar Al-Khoraif said, “The mineral sector is now our fastest-growing sector. This new gold mine is a historic step in the efforts to diversify the Saudi economy.”
According to the Saudi Stock Exchange and Ma’aden, new gold and copper deposits have also been found in the Wadi Al-Jaw and Jabal Shaiban areas near Mecca. Large-scale mining operations may be carried out in these regions in the future.
According to economists, this discovery could have a major impact not only on Saudi Arabia, but also on the global gold market. The price of gold has already exceeded US$1,115.84 per 10 grams. As a result, this new mine could play an important role in increasing global supply and stabilizing the market.
Currently, the United States has the largest gold reserves in the world (8,133 tons), followed by Germany, Italy, France and Russia. Experts believe that Saudi Arabia’s new gold reserves could create new competition in the global market and have a positive impact on international prices.
Source: International The News