Our ‘Ma’aden 2025’ strategy targets sustainable annual gold production of one million ounces. Ma’aden is committed to making continued major investment in greenfield and brownfield exploration to deliver the additional new mineral resources needed to build new gold mines. We are:
- Focusing on key target areas adjacent to existing operations, exploring for gold and base metals.
- Expanding the available exploration footprint by lodging exploration license applications over fertile mineralized belts and
- Implementing sophisticated prospectivity mapping technology to fast track the exploration process and expand the delivery of discovered ounces and tonnes.
Our recent exploration activities have been successful in identifying additional new mineral deposits and increasing our confidence in the tonnage and grade of previously discovered targets. We now invest over SAR 100 million ($27 million) annually in exploration activities in Saudi Arabia and are focused on brownfield drilling, assessment of potential greenfield targets and continued drilling at dozens of prospects.
The Ma’aden 2025 strategy also lays considerable emphasis on diversification of our industrial minerals portfolio. In line with this we are assessing bentonite, graphite, kyanite and diatomite to be included in our portfolio. In the short term, copper and zinc will also receive greater focus in line with our growth strategy. Exploration work will focus on upgrading resource estimation categories on existing mineral inventories adjacent to existing mining licenses.
Historically, Ma’aden Exploration has invested heavily in technology, such as regional airborne surveys, geochemical surveys and remote sensing data to fully evaluate existing and new exploration licenses. Building on this technical excellence, Ma’aden Exploration are currently investigating the use of airborne gravity, extensive ground IP surveys in brownfields areas and the use of mineral prospectivity mapping in the target generation phase of exploration.