Stock - Gold
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JEDDAH: The Kingdom of Saudi Arabia on Thursday announced the discovery of new sites for gold and copper ore deposits in the Madinah region.

According to the Saudi Press Agency (SPA), the Saudi Geological Survey, represented by the Survey and Mineral Exploration Centre, said that the discoveries of gold ore were within the boundaries of Aba Al-Raha, the shield of Umm Al-Barrak Hejaz, in the Madinah region.

Copper ore was also discovered at four sites in the Al-Madiq area in the Wadi Al-Faraa region in Madinah.

These discoveries represent promising potentials for special copper deposits, from the mineral chalcocite (Cu2S), which is scattered, as well as some secondary copper carbonate minerals.

These will be added to the list of discoveries during 2022, which will accelerate the pace of mining investment in the Kingdom, and thus, will support the Kingdom's Vision 2030 and the national economy. These discoveries in various locations in Saudi Arabia will contribute to the development of the national economy, with the influx of local and international investors to make investments in the thriving mining sector.