Gold Sites in Saudi Arabia: New deposits of gold and copper have been found in the Gulf country of Saudi Arabia. Saudi Arabia recently announced the discovery of new sites for gold and copper ore deposits in the holy city of Medina. According to the Saudi Geological Survey, the gold ore was discovered within the limits of Aba al-Raha in the Medina region. According to officials, copper deposits were discovered at four sites in the Al-Madiq area in Medina.
Due to the availability of new gold reserves in Medina, international and local investors of the country will be more attracted, which is expected to increase more investment in the mining sector.
Investment in Saudi Arabia likely to increase
The Saudi Geological Survey wrote on social media, “With the discoveries of the Gold Sites, we hope to open up more opportunities for investment opportunities for the world.” According to a report by Al Arabiya, the new discoveries are now expected to attract local and international investors and contribute to the growth of the country’s economy.
4000 jobs expected to be created
Officials believe that after the newly discovered Gold and Copper Sites Discovery, there is a potential for investment of $533 million and it is also expected to create about 4,000 jobs. The discovery of gold and copper in Saudi Arabia can prove to be very helpful in fulfilling the Vision 2030 of the country’s Crown Prince Mohammed bin Salman.
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