Saudi Arabia recently announced that it has discovered new deposits of gold and copper in the holy city of Medina. The Saudi Geological Survey has informed in a Twitter post that there are gold ore deposits bordering the Aba al-Raha area of the Medina region. Officials said copper ore was also found in Wadi al-Fara in Medina’s Al-Madiq area. Saudi Geological Survey wrote on social media that with our discovery, Saudi Arabia now offers the world even more attractive investment opportunities.
According to the information, the new discovery will attract local and international investors. This will boost the national economy. Officials expect the newly discovered gold and copper deposits to attract an investment of about $533 million and create about 4,000 new jobs.
Saudi Arabia has about 5,300 mineral deposits. Many types of minerals are found in it. Saudi Arabia’s Crown Prince Mohammed bin Salman has described mining expansion as an important part of his Vision 2030. In May this year, Saudi Arabia’s Ministry of Industry and Mineral Resources announced plans to attract $32 billion investment in the mining sector.