Saudi Arabia uncovers 7.8mn ounces of gold reserves

Riyadh: Saudi Arabia’s mining company (Maaden) has announced new gold resource additions totalling 7.8 million ounces across four sites in the Kingdom.

The expanded resources span 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 a combined 1.67 million ounces from Uruq 20/21 and Umm As Salam, and a maiden 3.08 million-ounce resource at Wadi Al Jaww.

The growth was driven by targeted drilling programmes that initially defined more than nine million ounces before adjustments for standard annual reporting factors.

Maaden CEO Bob Wilt said the results validate the company’s long-term strategy to unlock Saudi Arabia’s mineral potential and strengthen its position as a leading global mining player.

The company’s 2026 exploration programme has focused heavily on the Central Arabian Gold Region, where advanced drilling identified new mineralised zones and potential mine extensions. Near-mine exploration at the historic Mahd gold site has also identified extensions that will be evaluated for potential life-of-mine expansion.

Wilt added that the latest results reinforce Maaden’s broader diversification ambitions. “The results underline the strength of the company’s broader pipeline,” he said. “What we’re seeing at Shayban and Jabal Al Wakil points to a much larger opportunity across the Kingdom and reinforces our ambition to build a strong multi-commodity portfolio alongside our growing gold business.”

Maaden’s flagship Mansourah Massarah project now contains an estimated 116 million tonnes grading 2.8 grams per tonne of gold, equating to a total resource of 10.4 million ounces. Recent drilling expanded the resource base by a net three million ounces year-on-year, following gross additions of 4.2 million ounces.

The company said mineralisation remains open at depth across both the Mansourah and Massarah deposits, highlighting the potential for further discoveries. Drilling is expected to continue through 2026, with additional updates planned as Maaden advances its understanding of the system.