Saudi Arabia announces huge quantities of gold discovered in Mecca

RAYADH, Dec. 29 (YPA) – Saudi Arabia announced on Thursday the discovery of huge quantities of gold along a length of 125 km south of the Mansoura and Masara gold mine in Mecca province.

“This is the first discovery within the intensive exploration program in “Ma’aden”, which was launched in 2022 and aims to build a metal production line, the Saudi Arabian Mining Company (Ma’aden) said in a statement.

The company explained that the results after excavations in multiple sites revealed similar geological and chemical characteristics to the sediments in the mine.

The statement affirmed that the positive exploration results combined identified the potential area with a length of 125 km, with great expectations to become a major gold belt of international standards in Saudi Arabia.

Despite the huge production of mineral and oil resources in Saudi Arabia, the Kingdom has not been able to exploit these resources optimally, due to the lack of transparency, and the Saudi regime’s tendency to squander these resources away from viable projects, and to adopt policies characterized by capriciousness and randomness in managing the revenues of extractive wealth.

AA