Saudi Arabia discovers new gold, copper deposits in Medina

Saudi Arabia has announced the discovery of new sites for gold and copper ore deposits in the holy city of Medina.The Saudi Geological Survey informed that the discoveries of gold ore were within the boundaries of Aba al-Raha, in the Medina region. Copper ore was also discovered at four sites in the Al-Madiq area in the Wadi Al-Faraa region in Medina. "With our discoveries, we open up more prospects for promising investment opportunities to the world," the kingdom's geological survey wrote on social media. The new discoveries are expected to attract local and international investors and in turn contribute to the development of the national economy.The site reportedly has an expected investment size of $533 million and is expected to generate around 4,000 jobs.Minig is one of the sectors that has been identified for expansion as part of the Vision 2030 goals established by Saudi Arabia’s Crown Prince Mohammed bin Salman. In May, Saudi Arabia’s Ministry of Industry and Mineral Resources outlined plans to attract $32 billion of investment into the mining sector.Saudi Arabia is home to over 5,300 mineral locations, these include diverse metal and non-metal rocks, building materials, decorative rocks and gemstones.