Saudi Arabia reveals its reserves of yellow gold

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The Saudi Ministry of Information published data on the country’s underground gold reserves and mining potential.
The ministry said in a tweet on its account on the micro-blogging site “Twitter”, “Saudi Arabia is blessed with abundant and diverse reserves of mining potentials amounting to about 1.3 trillion dollars, and a large underground gold reserve estimated at 323.7 tons.
The production of gold metal has made successive leaps since the launch of the Kingdom’s Vision 2030 and its focus on developing the mining sector.
It is expected that the gold production sector in the Kingdom will grow in the coming years, especially after it has allocated a number of mining reserves sites that will be subject to exploration.
The number of factories producing gold and silver bars is about 6, with an investment volume exceeding 7 billion Saudi riyals.



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