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 South Korean-owned automotive supplier, BC GEN Hungary Kft., has announced a new investment of HUF 21 billion, which will create 400 new jobs in Salgótarján. The announcement was made by Minister of Foreign Affairs and Trade Péter Szijjártó in Budapest on Tuesday.
In recent years, China has pivoted its investment strategy in Central Asia, particularly in Kazakhstan and Uzbekistan, towards renewable energy projects. Notably, agreements were signed in 2023 for Chinese companies to build substantial solar photovoltaic plants in multiple Uzbek regions, representing a total of $4 bn in investment.
Japan welcomed a record 17.78 million foreign visitors in the first half of 2024, the country’s tourism agency has said, as the weak yen helped drive tourist numbers above pre-pandemic levels.