Saudi Arabia Expands Gold Reserves with Major New Discoveries

Riyadh:  Saudi Arabian Mining Company (Maaden) has announced new gold resource additions totalling 7.8 million ounces across four sites in the Kingdom, reinforcing its strategy to expand domestic mineral reserves and establish a world-class gold mining portfolio.

The resource growth resulted from targeted drilling programmes that initially identified more than nine million ounces, before adjustments in line with standard annual reporting requirements. The new additions cover Maaden’s key assets at Mansourah Massarah, Uruq 20/21, Umm As Salam and the newly defined Wadi Al Jaww discovery.

Mansourah Massarah recorded the largest increase, adding three million ounces year-on-year. This was followed by combined additions of 1.67 million ounces at Uruq 20/21 and Umm As Salam, while Wadi Al Jaww contributed a maiden resource estimate of 3.08 million ounces.

Bob Wilt, Chief Executive Officer of Maaden, said that the results affirm the company’s long-term strategy to unlock the Kingdom’s mineral wealth and strengthen its position as a leading global mining player. He noted that continued investment in exploration is delivering consistent growth across Maaden’s gold portfolio.

Wilt explained that the addition of more than seven million ounces through drilling highlights the scale and depth of the company’s development pipeline, adding that the growth of its assets will directly support future production and cash generation.

He added that Maaden’s 2026 exploration programme focused heavily on the Central Arabian Gold Region, where advanced drilling has identified new mineralised zones and potential extensions to existing mines. Near-mine exploration at the historic Mahd gold site has also revealed extensions that will be assessed for potential life-of-mine expansion.

Wilt further pointed out that the latest results underline Maaden’s broader ambitions to develop a diversified, multi-commodity portfolio. Early exploration results for copper and nickel at Shayban and Jabal Al Wakil indicate significant potential within the Arabian Shield, reinforcing prospects for future growth beyond gold.

Maaden’s flagship Mansourah Massarah project now hosts an estimated 116 million tonnes of ore grading 2.8 grams of gold per tonne, equivalent to a total resource of 10.4 million ounces. The company stated that mineralisation remains open at depth across both Mansourah and Massarah deposits, confirming the potential for further discoveries.

Maaden indicated that drilling activities will continue throughout 2026, with further updates expected as exploration advances and the company deepens its understanding of the mineral systems across the Kingdom.