Saudi Arabia’s mining company Maadan finds new gold deposits in the Mecca
The mining company added that the samples taken have indicated the presence of high-grade gold deposits.
According to Arab media, Saudi Arabia’s mining company Maadan has found new gold deposits in the Mecca area.
In this regard, Maadan Company has said in its statement that it has discovered several new gold deposits south of the existing Mansoora Masara gold mine.
The mining company added that the samples taken have indicated the presence of high-grade gold deposits. The discovery indicates potential for expanding gold mining in the area, the mining company added in its statement. According to company mining documents, work on the discovery is likely to begin next year.
It should be noted that Maadan is a Saudi state-owned mining company with its headquarters in Riyadh. It was incorporated as a Saudi joint stock company on March 23, 1997 with the objective of facilitating the development of Saudi Arabia’s mineral resources. The Saudi government still owns 50% of its shares.
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