Saudi Arabia’s Maaden uncovers 7.8 million ounces of new gold

Dubai: Saudi Arabian Mining Company (Maaden) has announced new gold resource additions totalling 7.8 million ounces across four sites in the Kingdom, supporting the company’s accelerating push to expand domestic mineral reserves and build a world-class gold franchise. The growth is driven by targeted drilling activity that initially defined more than nine million ounces before adjustments for standard annual reporting factors. (Check latest UAE gold prices here, alongside prices in Saudi Arabia, Oman, Qatar, Bahrain, Kuwait, and India.)

The resource expansion covers Maaden’s key assets at Mansourah Massarah, Uruq 20/21, Umm As Salam and the newly defined Wadi Al Jaww discovery. Mansourah Massarah contributed the largest increase, growing by three million ounces year-on-year, followed by 1.67 million ounces from Uruq 20/21 and Umm As Salam, and a maiden 3.08 million-ounce resource at Wadi Al Jaww.

CEO Bob Wilt said the results confirm Maaden’s long-term strategy to unlock Saudi Arabia’s mineral wealth and expand its position as a leading global mining player. “The results leave no doubt that the company’s long-term strategy is working on the ground. This is exactly why we continue to invest heavily in Saudi Arabia’s gold endowment,” he said.

Wilt added that the new gold resource additions demonstrate the scale and consistency of the company’s pipeline. “The addition of more than seven million ounces through drilling across the four areas demonstrates the scale and ongoing potential of Maaden’s gold portfolio, and it continues to deliver as we advance exploration and mine development. Our assets are growing, and that growth directly supports future cash generation.”

The company’s 2026 exploration programme focused heavily on the Central Arabian Gold Region, where advanced drilling identified new mineralised zones and potential mine extensions. Near-mine work at the historic Mahd gold site has also pinpointed extensions that will be assessed for life-of-mine expansion.

Wilt said the latest results reinforce Maaden’s broader diversification ambitions. “The results underline the strength of the company’s broader pipeline. These early copper and nickel results show the same signals we saw first in gold and that the Arabian Shield has real scale to continue developing,” he said. “What we’re seeing at Shayban and Jabal Al Wakil points to a much bigger opportunity across the Kingdom and reinforces our ambition to build a strong multi-commodity portfolio alongside our growing gold business.”

Maaden’s flagship Mansourah Massarah project now holds an estimated 116 million tonnes grading 2.8 grams per tonne of gold for a total resource of 10.4 million ounces. The latest drilling expanded the resource base by a net three million ounces year-on-year after additions of 4.2 million ounces.

The company said mineralisation remains open at depth across both Mansourah and Massarah deposits, confirming the potential for further discoveries. Drilling is set to continue through 2026, with additional updates expected as Maaden advances its understanding of the system.