Saudi Arabia announces discovery of new gold, copper sites in Madinah

The Saudi Geological Survey (SGS) has discovered new gold and copper ore sites in the Madinah region, it said in a tweet. .

The new findings were within the borders of Aba Al-Raha and Umm Al-Barrak Hejaz, SGS announced on Thursday via its twitter handle.

The copper ore was discovered in four sites in Al-Madiq and Wadi Al-Faraa regions.

The new sites will contribute to the development of the national economy, driving local and international investors to make further investments in the Kingdom’s mining sector.

In July, Saudi Industry and Mineral Resources Minister Khalid Al-Mudaifer said that the Kingdom attracted more than 30.06 billion Saudi riyals ($8 billion) in foreign direct capital in its mining industry in 2021 following the passing of a law to encourage investment in this sector.