On Thursday 06/30/2022, the Vice President of the National Committee for Mining, and a member of the Advisory Committee of the Mining Department at King Abdulaziz University, and the CEO of Rasi Investment Group was hosted on the Saudi Al-Ekhbariya channel, and talked about the whereabouts of gold in the Kingdom, and there are several indications that there are more than 850 mineralized site in the Kingdom of Saudi Arabia that is always present in the Arabian Shield and exists in the form of belts and also exists in the form of four geological categories, all of which are located in the Arab Shield region.
As it is known that the Kingdom is divided into two parts, an eastern section and a western section, the eastern section contains the depositional environments in which gas, oil and water are present, and the western section, which is known as the Arab Shield region, from north to south, gold is found inside the Arabian Shield in geological environments and geological belts and in good quantities.
Currently, there are more than 11 mines and more than 1,600 exploration licenses at the level of the Kingdom, and all these foreign companies and national companies seek to extract and explore gold with very high scientific geological and mining operations.
He added that the factories that work in the field of gold have a very high cost, because they depend in one way or another on the quality and the geological environment of the metal or the ore itself. The subject is that the Saudi Industrial Development Fund (SIDF) has included in part of its new strategy support for the mining sector and also a support up to 60% to find qualified Saudi factories to help exploration licenses and mining licenses holders to operate their factories, with government support that reaches 70% in some cases.