Meshary AlAli AlDehashi, CEO, of Golden Compass Mining Consulting, stated that the Saudi Arabian Mining Company (Ma’aden), through its new strategy, seeks to double its gold production by 2030. This strategy is based on the exploration licenses granted to it, which cover more than 24,000 square kilometers, in addition to doubling the benefits of these licenses through exploration operations and studies conducted by the company.
Meshary explained that the primary reason behind Ma’aden’s move to double its production is the high global demand for gold, along with the current high price levels for the yellow metal. He noted that these factors encourage international companies to maximize the use of licenses amid the international race to secure vital minerals used in strategic industries, including electric cars and defense industries.