Saudi Arabia announces discovery of largest mineralized belts to date

(MENAFN) Saudi Arabia has announced the discovery of its largest mineralized belts to date, covering a substantial area of 4,788 square kilometers and introducing five new exploration licenses. This major development underscores the country’s commitment to advancing its mineral resource sector, which is a key element of its economic strategy.

Three of these new exploration permits are designated for the Jabal Sayid site located in Madinah. This site spans approximately 2,892 square kilometers and is rich in valuable minerals, including gold, silver, copper, zinc, and lead. The Ministry of Industry and Mineral Resources highlighted these permits as a significant opportunity for both local and international firms to engage in mineral exploration and extraction in this promising region.

The remaining two licenses are allocated to the Al-Hajjar Site in the Asir region, covering 1,896 square kilometers. Like the Jabal Sayid site, the Al-Hajjar Site also contains deposits of gold, silver, copper, zinc, and lead.

This initiative is part of Saudi Arabia's broader strategy to boost the exploration and development of its mineral resources, which are estimated to be worth SR9.3 trillion (approximately USD2.4 trillion). The move is in line with Saudi Arabia’s vision to establish mining as a cornerstone of the national economy. The initiative aligns with the goals of Saudi Vision 2030, which aims to enhance the sector's contribution to economic growth and industrial diversification. By expanding mineral exploration and development, Saudi Arabia seeks to strengthen its position in the global mining industry and support its long-term economic objectives.

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