In the pure city of Medina, new gold and copper ore sites are found, and discovery is announced by Saudi Arabia.
Saudi Arabia Confirmed Discovery of New Gold And Copper Deposit Sites
Through Twitter, Saudi Geological Survey has informed us about the latest discovery of gold and copper ore sites within the Aba al-Raha, in the province of Medina. Along with Gold, copper is also discovered at four different sites in the Al-Madiq, the Wadi Al-Faraa region in Medina, said, Officials.
“With our discoveries, we open up more prospects for promising investment opportunities to the world”, countries Geological Survey informed on Social media.
As per the report of Al Arabiya, “the new discoveries are now expected to attract local and international investors and in turn, contribute to the development of the national economy. Officials believe that the newly discovered site has an expected investment of $533 million, and is also expected to generate around 4,000 jobs.”
“The new discoveries will constitute a qualitative leap for mining in the Kingdom, and open up more prospects for promising investment opportunities,” said analysts, as per the outlet.
Over 5,300 minerals are residing in Saudi Arabia, said Professor Abdulaziz bin Labon, Chairman, Saudi Geologists Cooperative Association in January and further said, “these include diverse metal and nonmetal rocks, building materials, decorative rocks and gemstones.”
By 2030, Crown Prince Mohammed bin Salman desires to expand the mining sector by a huge margin.
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In June this year, as per Al Arabiya, “the Crown Prince announced the national priorities for the research and development sector. In May, the Kingdom’s Ministry of Industry and Mineral Resources outlined plans to attract $32 billion of investment into the mining sector”.