According to GlobalData, Saudi Arabia is the world’s twenty-sixth-largest producer of gold, with output of 544koz in 2022, up by 11% on 2021. Over the five years to 2021, production from Saudi Arabia increased by a CAGR of 4% and is expected to rise by a CAGR of 5% between 2022 and 2026.
Saudi Arabia accounts for 0.46% of global production, with the other largest producers being China (11%), Australia (10%), Russia (8%) and Canada (7%).
Major gold mines in development in Saudi Arabia
|Mine/project name||State||Mine method||Stage||Gold Production Capacity (koz)||Owners|
|Jibal Qutman Project||Asir||Open Cut||Feasibility||40||Abdul Rahman Saad Al-Rashid & Sons (70%); KEFI Gold and Copper (30%)|
London-listed company KEFI Gold and Copper plc (LON:KEFI) is an exploration and development company focused on gold and copper deposits in the highly prospective Arabian-Nubian Shield. The Company operates in Ethiopia and Saudi Arabia with projects including Tulu Kapi project, Jibal Qutman EL and Hawiah.