Saudi Arabia's new gold mine

(Fortune Magazine) - A new generation richer hunter is seeking wealth on the beach in Saudi Arabia

But this time they are looking for gold - not a black, liquid type, but a shiny variety, and perhaps even more beneficial metal and minerals. InésSwott, CEO of the Citadel Resources Group in Australia, says: "The geology here is wonderful."

The explorers have mined money for over 3000 years in Arabia - some say that the wealth of King Solomon is coming from here - but the Saudi government recently has been working for large commercial exploration and production I opened the land.

Abdallah Dab-bagh (meaning "mineral" in Arabic), CEO of state-owned mining company Ma'aden, says "Saudi Arabia is the size of a small continent". "However, looking at the number of exploration exercises conducted here from 1945 to today, this is the same as what happened in Canada within one year."

The company was founded in 1997 and has only one gold mine in operation. Ten years later, Ma'aden - the government listed half of the company in July and reached $ 2.5 billion - five gold mines and two billions dollar projects in the development and planning stages

Ma'aden's $ 5.5 billion effort is expected to make this kingdom the world's largest exporter of diammonium phosphate. The company also plans to sign a $ 10.5 billion agreement with Rio Tinto Alcan (RTP) to mineralize bauxite and build refineries, smelters and power plants to become major aluminum exporters .

Promoting government mining is to create jobs and promote economic diversification with overwhelming advantage of oil dollars. Experts say that bauxite and phosphate bring huge new benefits to Saudi Arabia, not only for the amazing supply of these minerals. The country also has special advantages

Peter Searle, a geologist at consulting firm CRU International, says: "The value of these minerals is not digged from the basement."

In addition, bauxite turns into aluminum and needs more energy. As everyone knows, this should not be a problem for Saudis.

Gold mines in Arabia and East Africa are famous in ancient times and gold is being mined today in Saudi Arabia. The nabatine region (also called "Hejaz") in the northwestern Arab is an ancient rich gold mine called Mahd adh Dhahab, or "the cradle of gold". Archeologists said, "A lot of waste stones that still contain traces of gold ... thousands of stone hammers and wheels are used to extract gold from ore at the edge of ancient miners, ores "I discovered.

Mesopotamia and Palestinian craftworkers may be receiving supplies from Egypt and Arabia. A recent study at the Mahd adh Dhahab ("Cradle of Gold") mine in Saudi Arabia showed that gold, silver and copper were recovered from this area during the reign of King Solomon. It is believed that the debts of Azteca and Inca in Mexico and Peru are coming from Colombia, but certainly some money can be obtained from other sources. Many gold and silver items melted into coins and bars, valuable relics of Indian culture were destroyed.

Founded in 1983, the worldwide mining companies are engaged in gold in Argentina, Australia, Canada, Chile, the Dominican Republic, Papua New Guinea, Peru, Saudi Arabia, the US and Zambia. In all these areas, more than 75% of the company's total gold production is from the United States. In Peru, Barrick owns the Pierina mine in Andean Cordillera in the north - central Peru. Pierina mine produces 54,000 ounces of gold in 2015

Saudi Arabia, one of the world's largest oil producing countries, is currently investing in solar energy. However, Saudi Arabia has the strongest sun on the planet, a metaphor of the sun, and a gold mine of text. What are their current plans? In addition to Saudi Arabia's solar farm, we will construct solar panel factories that produce panels and energy for global export. There are several obstacles in the plan, such as overcoming other unusual obstacles. Since the supply of dust and sand is infinite, cleaning of solar panels is itself a task. King Abdullah University of Science and Technology is working on prototypes that clean panels without water using "long metal rods with brushed wires that move with panels". The prototype seems to be effective, but it is not officially installed in the current solar farm.