ShreeMetalPrices: Huge Gold and Copper Ore Deposits are Found by Saudis in Madinah.


The discovery of new spots for huge deposits of gold and copper ore deposits in the Madinah region was reported by the Kingdom of Saudi Arabia on Thursday.

According to the Saudi Press Agency (SPA). The Saudi Geological Survey (SGS), through the Survey and Mineral Exploration Centre. Stated that Gold resources have been found inside the bounds of Aba Al-Raha in the Madinah region.

According to Al Arabiya, The discoveries are anticipated to draw both domestic and foreign investment totaling up to $533 million. Creating about 4,000 employment. Additionally,. The copper ore was found at four locations in the Wadi Al-Faraa section of Madinah’s Al-Madiq neighbourhood. They are among of the most recent finds made this year. And they will contribute to the expansion of the mining industry in the kingdom in keeping with the objectives of Crown Prince.

Following the passage of legislation encouraging investment in the sector. The Saudi Arabian government attracted more than $8 billion (30.1 Billion Saudi riyals) in foreign direct capital to its mining industry last year, according to Khalid Al-Mudaifer, the minister of industry and mineral resources.

Mohammed bin Salman’s Vision 2030. Which aims to move the nation toward a diverse, post-oil economy. GS also announced the findings of copper ore, located across four sites in the Al-Madiq area in the same region.