Saudi gold production jumped 143% by 7.3 tons since 2016 – Saudi Gazette

Saudi gold production jumped 143% by 7.3 tons since 2016 – Saudi Gazette

Saudi Gazette report

RIYADH “”

Saudi Arabia has increased its gold production by 143% (7.3 tons) since the launch of the Kingdom's Vision 2030 during the year 2016, reaching 12,350 kg in 2019, compared to about 5,090 kg in 2015.

This increase attributed to the focus of the Vision 2030 on developing the mining sector and increasing its contribution to the economy, which Crown Prince Muhammad Bin Salman considered as "another untapped oil.“

According to the data, published by the Ministry of Energy, Industry and Mineral Resources, Saudi Arabia's gold production rose five percent last year, equivalent to about 588 kg, as production was 11,770 kg in 2018, Al-Eqtisadiah business daily reported.

Saudi Arabia's gold production increased by 176 percent, equivalent to 7,880 kg, in 10 years, as production was estimated at about 4,860 kg in 2009. The data shows a boom in mineral production in Saudi Arabia, in conjunction with the goal of Vision 2030 to develop the sector significantly.

Saudi silver production recorded an increase of five percent (266 kg) to 5,590 kg in 2019, compared to 5,320 kg in 2018. Since the launch of Vision 2030, silver production has increased 24 percent (1,090 kg) from 4,500 kg in 2015.

As for copper production,