Saudi Arabia Strikes Gold: Massive Reserves Discovered Across Four Sites

Riyadh, January 14, 2026: Saudi Arabia, long known for its oil wealth, has struck a new vein of prosperity—this time in gold. The kingdom has discovered substantial gold reserves at four locations, adding over 7 million ounces to its known gold resources, in a development that promises to further strengthen its economy.

The state-owned mining company Ma’aden announced the discovery on social media platform X on January 12, revealing the results of one of the largest exploration programs ever conducted by a single country. According to the company, the campaign has identified a total of 7.8 million ounces of gold, with the largest deposit located at Wadi Al Jaw, estimated at 3.8 million ounces. Other significant findings include Mansourah with 3 million ounces, and Uruk and Um Al Salam together holding 1.67 million ounces.

Understanding the Measure:
Gold reserves are typically measured in ounces, with one ounce equivalent to 31.10 grams. While India trades gold in grams, international mining reports use ounces as the standard unit.

Ma’aden also reported advanced drilling in the Arabian Gold Area, which led to the identification of new resource zones, including an expansion near the historic Mahd mine. CEO Bob Will stated that these results reflect the company’s long-term strategic planning bearing tangible outcomes.

Part of Vision 2030:
The discovery aligns with Crown Prince Mohammed bin Salman’s Vision 2030, which aims to diversify Saudi Arabia’s oil-dependent economy. Mining and mineral extraction are expected to become a key pillar of economic resilience, contributing an estimated SAR 120 billion annually to GDP. Currently, oil sales account for 90% of the nation’s revenue, but with these new gold finds, Saudi Arabia is taking a major step toward broadening its wealth beyond hydrocarbons.