Barrick Gold expands exploration footprint in Saudi Arabia

12th January 2023

By: Creamer Media Reporter


Font size: - +

Canadian mining company Barrick Gold on Wednesday signed new joint venture (JV) agreements with Saudi Arabia’s Ma’aden for two prospective exploration projects comprising the Jabal Sayid South and Umm Ad Damar licence areas.

These new prospective JVs significantly expand Barrick’s exploration footprint in Saudi Arabia, grow the Ma’aden Barrick partnership and open up potential synergies with the neighbouring Jabal Sayid mine, an already successful 50:50 JV between Barrick and Ma’aden.

From 2018 to 2021, production at Jabal Sayid increased from 110-million pounds to 152-million pounds a year as a result of improved mining performance and process plant optimisation and during the same period the mine’s mineral reserves were grown net of depletion by the company’s geologically-driven exploration strategy.

Speaking at the signing ceremony, Barrick president and CEO Mark Bristow said the company would bring its record of exploration and operational success to the new projects.

“Recent high-grade intercepts from underground drilling within the existing Jabal Sayid mine are demonstrating potential for further orebody extensions. In addition, positive initial results from nearby new exploration targets are indicating further growth prospects, which are being aggressively pursued by the exploration team. This intense focus on discovery will be applied to the expanded portfolio through the application of the latest geological concepts and exploration technologies,” he said.

Bristow said Barrick was committed to broadening its partnership with Ma’aden in the region and to playing its part in realising the Saudi Arabian government's vision of growing a diversified and sustainable mining industry in the country.

Edited by Creamer Media Reporter


The content you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?