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.
As Washington aims to decrease its trade deficit and strengthen domestic production, global value chains are facing new pressures to restructure. This change poses significant challenges for both European and Chinese producers as the flow of decade-long input and final good channels is disrupted. Is this a new opportunity for the two economic zones to further strengthen their relationship thereby mitigating some of the negative effects of US trade policy?
For the first time, a Hungary–New Zealand Business Forum was held in Budapest in late May, organised by the Hungarian Export Promotion Agency (HEPA). On the margins of the event, Eurasia spoke with Simon Bridges, CEO of the Auckland Business Chamber.