Kathmandu. Saudi Arabia has now found an important treasure. New gold reserves have been discovered in 4 places of the country. <\/p>\n
The discovery adds more than 7 million ounces of gold to Saudi Arabia’s known gold reserves. Notably, the gold reserves will further strengthen Riyadh, which is already rich from oil sales. <\/p>\n
Saudi Arabia’s state-owned mining company, Maden, announced the discovery on the social media platform X on January 12. “It has conducted a massive exploration program in the state, which is the world’s largest in a single country,” the company said. \u2019<\/p>\n
According to the company, its latest exploration has produced a total of 78 million ounces of gold. “Today, we have contributed more than 7 million ounces to Saudi reported gold resources across our four strategic assets,” the company said. <\/p>\n
According to a report by Arabian Business, these reserves were discovered through drilling at four locations. The largest hoard has been found in Wadi Al Jaw. An estimated 38 lakh ounces of gold has been found. <\/p>\n
Similarly, 3 million ounces of Mansurah and 16.7 million ounces of Uruk and um Assalam were found. An ounce is a unit of measurement of precious metals, such as gold. One ounce is equal to 31.10 grams. <\/p>\n
Saudi Arabia is investing heavily in regional mines. This is part of Saudi Crown Prince Mohammed bin Salman’s Vision 2030 plan. Its goal is to diversify the oil-based economy. <\/p>\n
Vision 2030 establishes mineral exploration as a fundamental pillar for economic resilience. It aims to contribute 120 billion Saudi riyals annually to the GDP. <\/p>\n
This represents a major shift from Saudi’s traditional revenue model. Oil revenues account for 90 per cent of government revenues. \u2013Agency<\/p>\n","protected":false},"excerpt":{"rendered":"
Kathmandu. Saudi Arabia has now found an important treasure. New gold reserves have been discovered in 4 places of the country. The discovery adds more than 7 million ounces of gold to Saudi Arabia’s known gold reserves. Notably, the gold reserves will further strengthen Riyadh, which is already rich from oil sales. Saudi Arabia’s state-owned […]<\/p>\n","protected":false},"author":16,"featured_media":213359,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[45044,45159],"tags":[],"class_list":["post-283642","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-international-news-en","category-news-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/283642","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/users\/16"}],"replies":[{"embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/comments?post=283642"}],"version-history":[{"count":1,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/283642\/revisions"}],"predecessor-version":[{"id":283643,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/283642\/revisions\/283643"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/media\/213359"}],"wp:attachment":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/media?parent=283642"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/categories?post=283642"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/tags?post=283642"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}