A recent announcement of new gold and copper deposits has generated interest among analysts, investors and companies in the extractive chain due to their unimaginable potential. Although economic estimates are not yet part of the official dossier, the presence of minerals in this rich and strategic country is a focus of attention for the industry. The state entity responsible for exploration explained that geological surveys focused on regions formed by ancient volcanic and metamorphic terrain, where previous studies had already suggested conditions conducive to new deposits. The information gathered is still in its early stages and requires further drilling, laboratory analysis and mapping.
Which rich country has found new gold and copper deposits?
Saudi Arabia has announced in an official document discoveries in its western regions that could significantly alter the global mining map. The state-owned company Ma’aden, the main player in the sector in the country, confirmed the initial results that point to the existence of areas with high potential for the development of future mining operations. These discoveries, which include significant concentrations of the precious metal and copper, are part of the national economic diversification strategy, known as Vision 2030.
It should be remembered that the energy transition and dependence on global supply chains have brought to the fore the importance of metals such as copper, which is essential for the infrastructure of electricity grids and the manufacture of electric vehicles. At the same time, gold remains relevant as a safe haven and a stable source of financing for industrial growth. In this context of growing demand, resource-rich nations are seeking to consolidate their position in the market.
The immense geological wealth of the Arabian Shield
The new discoveries are located specifically in the Arabian Shield, a mountainous region composed of ancient Precambrian rocks that extend across the west of the country. This geological belt is formed by volcanic and metamorphic rocks, a geological ‘recipe’ that has been the cradle of important gold veins and copper-rich systems in neighbouring countries. Geologists explain that these formations originated from the movement of hot fluids through the rocks, leaving behind metals deposited in fractures and veins that are the main target of modern mining.
The areas have been mapped for decades by Saudi geologists, but current technology, with more advanced prospecting instruments, allows targets that were hidden under layers of sand and eroded rock to be identified. The Saudi government estimates its total unexploited mineral reserves at around $2.5 trillion, a figure that makes mining a potential driver of industrial and economic development.
Initial results point to large gold and copper deposits
The discoveries, announced in Riyadh during the Future Minerals Forum, cover two main areas which, if confirmed, could fuel future exploration. Ma’aden reported the discovery of new gold in Wadi Al Jaww and gold along with copper in Jabal Shayban. Both sites are in an early stage, known as the prospecting phase, where the goal is to determine the actual extent of mineralisation. However, preliminary information from the first drillings is encouraging:
- Surface mineralisation: initial studies show that the mineralisation (the metal trapped in the rock that can be measured and sampled) is sufficiently close to the surface, which is a determining factor in keeping the costs of future exploration under control.
- High-quality results: Ma’aden also pointed to important results below its current Mansourah Massarah gold mine. Preliminary surveys suggest that there may be significant underground potential beneath the current open-pit mine area.
Although the initial results do not constitute a proven reserve, the quality of the drill intercepts in the Mansourah Massarah zone is a key indicator for geologists. The company reported drill intercepts of 61 metres grading 10.4 grams of gold per tonne (g/t) and 20 metres grading 20.6 g/t. This data is vital to understanding the possible three-dimensional continuity of the high-grade zones, a prerequisite for the economic viability of these new gold and copper deposits.
The key role of mining in Saudi Arabia’s economic strategy
Mining is not only an economic opportunity but a central pillar in the country’s path to reducing its dependence on oil. This sector is focused on ensuring the following points:
- Economic diversification and employment: the mining industry is an engine of employment and a source of export revenue that complements the volatility of the energy market.
- Strategic supply of copper: the focus on copper is due to growing global demand for this metal in high-tech sectors, especially for distribution networks and electric vehicle manufacturing, a market where local supply can increase manufacturing resilience.
- Financial stability with gold: Gold remains a priority because it is relatively easy to process and sell, which facilitates the financing of Ma’aden’s future growth, even in volatile markets.
Aware of its strategic role, the company has made significant investments in exploration in recent years, including launching one of the world’s largest mineral exploration programmes in a single jurisdiction. The goal is clear: to accelerate the pace of discoveries and transform geological promises into exploitable resources.
