Saudi Arabia Boosts Gold Reserves as Ma’aden Adds 7.8 Million Ounces From New Discoveries

Saudi Arabia has announced a major expansion of its gold resources, with the Saudi Arabian Mining Company (Ma’aden) confirming the addition of 7.8 million ounces of new gold resources across four exploration sites within the Kingdom. The development marks a significant milestone in the country’s drive to strengthen its mining sector and unlock the long-term potential of the Arabian Shield.

According to Ma’aden, the new resource additions span operating mines, early-stage prospects, and entirely new discoveries, all located within Saudi Arabia. The growth follows an intensive drilling campaign that initially identified more than nine million ounces of gold before standard annual reporting adjustments related to costs and commodity price assumptions were applied.

The strongest gains came from targeted drilling across four key locations. Mansourah Massarah, Ma’aden’s flagship gold operation, recorded a net year-on-year increase of 3.0 million ounces, reinforcing its status as one of the most important gold assets in the region.

Uruq 20/21 and Umm As Salam collectively contributed an additional 1.67 million ounces, while Wadi Al Jaww delivered a maiden Mineral Resource estimate of 3.08 million ounces, highlighting the scale of untapped potential in newer exploration areas.

These results further strengthen Ma’aden’s gold growth pipeline and demonstrate the company’s ability to rapidly convert exploration success into defined mineral resources. Advanced drilling in the Central Arabian Gold Region has also uncovered new mineralized zones, while near-mine exploration at the historic Mahd gold mine has expanded the potential resource envelope, which is now being assessed for possible mine life extension.

Beyond gold, Ma’aden’s exploration program is beginning to reveal promising signs across base metals. Early-stage drilling at Jabal Shayban and Jabal Al Wakil has identified copper, nickel, and platinum group element mineralization consistent with large-scale mineral systems, pointing to future opportunities for a diversified mining portfolio.

Ma’aden CEO Bob Wilt said the latest results confirm that the company’s long-term strategy is delivering tangible results. He noted that continued investment in Saudi Arabia’s gold endowment is paying off, with drilling across the four areas demonstrating both the scale and sustainability of Ma’aden’s gold portfolio.

According to Wilt, the company’s expanding asset base directly supports future cash generation and shows that Ma’aden is still in the early stages of unlocking the Arabian Shield’s mineral wealth.

Wilt also emphasized that the early copper and nickel discoveries mirror the early signals seen in gold exploration, reinforcing confidence in the Kingdom’s broader mineral potential. He described the findings at Shayban and Jabal Al Wakil as evidence of a much larger opportunity, aligning with Ma’aden’s ambition to build a strong multi-commodity business alongside its growing gold operations.

The updated Mineral Resource estimate at Mansourah Massarah now stands at 116 million tonnes grading 2.8 grams per tonne, representing 10.4 million ounces of gold, further cementing the mine’s importance to Saudi Arabia’s mining future.

As the Kingdom continues to diversify its economy under Vision 2030, Ma’aden’s latest discoveries underscore Saudi Arabia’s rising profile as a global mining destination and highlight the strategic role gold and base metals are set to play in the country’s long-term economic growth.