Photo: iStock
Eurasia
09/01/2024 09:33
This is the first discovery in Ma'aden's extensive exploration program, which was launched in 2022 and aims to build Ma'aden's production line.
The exploration around Mansoura and Masarra focuses on identifying potential sediments on a similar scale and geological deposits, with encouraging results after exploration at multiple sites south of the veins and along 100 km south of the Mansoura and Masarra mines revealing similar geological and chemical properties to the sediments in the mine.
Taken together, the positive exploration results identified the potential area of 125 km with high expectations to become a major gold belt by international standards in Saudi Arabia, where exploration results close to Mansoura and Masarra indicate that resources are available in depth and along the region, which predicts an abundance of wealth in the mine, with the potential to extend the life of the mine by underground development.
It is noteworthy that the volume of gold resources in Mansoura and Masarra is about 7 million ounces at the end of 2023 with a production capacity of 250,000 ounces per year.
The Hungarian government has signed a strategic cooperation agreement with one of the largest car manufacturers. The agreement with BYD means that future cars will also be manufactured in Hungary, Viktor Orbán emphasised in his speech.
In recent years, the Republic of Uzbekistan has been consistently expanding its foreign economic ties with European countries, and Hungary is playing an increasingly significant role in this process. The elevation of relations to the level of strategic partnership, the intensification of bilateral dialogue, as well as the growth of investment activity by Hungarian companies in Uzbekistan, demonstrate the high potential for cooperation between the two countries.
U.S. President Donald J. Trump announced a landmark $600 billion investment commitment from Saudi Arabia into the United States, during the second day of his Middle East tour on Tuesday.