Saudi Arabia unveils major gold, copper discoveries in Arabian Shield

Saudi Arabia unveils major gold, copper discoveries in Arabian Shield
Ma’aden firmly establishes Saudi Arabia’s position as a global exploration hub with gold and copper discoveries. Shutterstock
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Updated 15 January 2025
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Saudi Arabia unveils major gold, copper discoveries in Arabian Shield

Saudi Arabia unveils major gold, copper discoveries in Arabian Shield
  • Finds include extensive gold deposits at Wadi Al-Jaww for gold and copper deposits at Jabal Shayban

JEDDAH: Saudi Arabia has announced significant gold and copper discoveries in the Arabian Shield region, a move set to bolster its global mining ambitions and strengthen the country’s economic diversification efforts. 

The Saudi Arabian Mining Co., or Ma’aden, revealed the discoveries during the Future Minerals Forum 2025, held from Jan. 14-16 in Riyadh. 

The finds include extensive gold deposits at Wadi Al-Jaww for gold and copper deposits at Jabal Shayban, with mineralization extending deeper and in multiple directions from shallow depths of 20 to 200 meters. 

Bob Wilt, CEO of Ma’aden, highlighted the company’s aggressive exploration efforts, calling them part of “the world’s largest single-jurisdiction mineral exploration programs.” 

“Through the work we have undertaken in recent years, the raw prospectivity of the Kingdom has been proven. The results announced today provide a further boost as we continue to accelerate drilling activities across our exploration program in 2025,” he said. 

Wilt said the Kingdom’s focus on mining aligns with its broader economic transformation goals, creating opportunities for growth and development in the sector. 

The company said that Jabal Shayban has long been recognized as a key exploration site, with programs dating back to the 1940s. In contrast, Wadi Al-Jaww represents a new frontier, as no prior exploration has been conducted there. 

While Ma’aden didn’t provide specific estimates on the size and quality of the mineralization, the company said that ongoing analysis and drilling efforts would refine its understanding of the deposits throughout 2025. 

Ma’aden announced new findings from its Mansourah-Massarah gold mine. Drilling has revealed high-grade gold mineralization below the current pit design and significant underground potential. Recent results include intercepts such as 61 meters grading at 10.4 g/t gold and 20-meter grading at 20.6 g/t gold within 400 meters of the mine. 

The results build on earlier success at the mine, with Ma’aden noting strong growth opportunities from both open-pit and underground operations.  

In a statement to the Saudi Stock Exchange, Ma’aden clarified that the financial impact of these discoveries remains undetermined. The company reaffirmed its commitment to transparency, promising to update shareholders on any significant developments. 


Closing Bell: Saudi main market ends lower at 10,453  

Closing Bell: Saudi main market ends lower at 10,453  
Updated 11 September 2025
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Closing Bell: Saudi main market ends lower at 10,453  

Closing Bell: Saudi main market ends lower at 10,453  

RIYADH: Saudi Arabia’s Tadawul All Share Index ended lower on Thursday, falling 44.98 points, or 0.43 percent, to close at 10,453.06.   

The total trading volume reached 192.58 million shares, with a turnover of SR3.56 billion ($948 million). A total of 57 stocks advanced, while 190 declined.  

The MSCI Tadawul 30 Index slipped 3.77 points, or 0.28 percent, to finish at 1,361.21.   

The Kingdom’s parallel market Nomu also eased, dropping 49.03 points, or 0.20 percent, to settle at 25,026.22, with 47 gainers against 43 losers.  

Among the top performers, Thimar Development Holding Co. surged 5.84 percent to SR46.40, while Ayyan Investment Co. climbed 5.09 percent to SR12.19.   

Raydan Food Co. rose 2.93 percent to SR13.71, Al Moammar Information Systems Co. gained 2.73 percent to SR131.50, and Taiba Investments Co. advanced 2.57 percent to SR36.72.  

On the losing side, Dar Al Majed Real Estate Co. dropped 8.17 percent to SR12.70, while Arriyadh Development Co. fell 5.23 percent to SR28.64.  

Middle East Healthcare Co. declined 4.38 percent to SR53.50, National Medical Care Co. shed 4.23 percent to SR160.80, and Buruj Cooperative Insurance Co. slipped 4.15 percent to SR15.24.  

On the announcement front, Jamjoom Fashion Trading Co. announced the successful completion of its initial public offering of 2.38 million shares, representing 30 percent of its capital, at a final offer price of SR145 per share.   

The offering, priced at the top of its earlier indicated range of SR140–145, implies a market capitalization of SR1.15 billion and generated total proceeds of SR346 million.  

The company said the IPO was oversubscribed 4.5 times, with an order book reaching SR1.56 billion.   

Kamal Jamjoom, founder and chairman, stated: “We are deeply encouraged by the strong demand from a diverse range of qualified investors, which reaffirms the market’s confidence in homegrown brands that are proudly taking Saudi development concepts to new markets, scaling in innovative ways, and blending the best of online shopping with brick-and-mortar experiences to attract and build a loyal customer base.” 

The shares will be listed on the parallel market of the Saudi Exchange following regulatory approvals.   

After the offering, Kamal Osman Jamjoom Trading Co. will retain a 70 percent stake in the company, subject to a 12-month lock-up period. Surplus subscription funds will be refunded by September 11, 2025, the company said.  


Saudi Arabia grants Syria 1.65m barrels of oil  

Saudi Arabia grants Syria 1.65m barrels of oil  
Updated 11 September 2025
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Saudi Arabia grants Syria 1.65m barrels of oil  

Saudi Arabia grants Syria 1.65m barrels of oil  

RIYADH: Saudi Arabia has granted the Syrian Arab Republic 1.65 million barrels of crude oil under the directives of King Salman and Crown Prince Mohammed bin Salman. 

The donation was formalized through a memorandum of understanding signed by Sultan bin Abdulrahman Al-Marshad, CEO of the Saudi Fund for Development, and Mohammed Al-Bashir, Syria’s Minister of Energy, the Saudi Press Agency reported.  

The signing ceremony was attended by Saudi Ambassador to Syria Faisal Al-Majfel and Majid Al-Uteibi, deputy minister for Oil and Gas Technical and Regulatory Affairs. 

The move reflects Saudi Arabia’s commitment to supporting the Syrian people and the strong ties between the two countries. 

“The grant will contribute to enhancing the operation of Syrian refineries and achieving operational and financial sustainability, supporting economic development and addressing economic challenges in Syria, ensuring the growth of vital sectors, and supporting national and international efforts to achieve sustainable development goals,” the SPA report said. 

Furthermore, the donation aligns with and supports broader national and international efforts aimed at achieving the UN Sustainable Development Goals in the region. 

Saudi Arabia is now leading a concerted effort to bring Damascus back into the Arab fold after a decade of economic isolation, a crippled currency, and shattered infrastructure. 

Following the 2024 reopening of its embassy, Saudi Arabia, alongside Qatar, settled Syria’s World Bank debt, unlocking access to vital international funding. 

This momentum continued with the recent Syrian-Saudi Investment Forum, where Saudi Investment Minister Khalid Al-Falih unveiled 47 agreements worth $6.4 billion, targeting key sectors of a modern economy. 

In addition to the oil grant, Saudi Arabia earlier this week announced a new reconstruction project in Damascus to clear rubble and aid rebuilding efforts, further strengthening ties with the Syrian authorities.  

The King Salman Humanitarian Aid and Relief Centre said it would provide an aid package to remove an estimated 75,000 cubic metres of rubble from the capital and surrounding areas. 

The aid will also support the rebuilding of 34 schools in Aleppo, Idlib, and Homs, the reconstruction of dozens of bakeries, and the rehabilitation of sewage and water infrastructure in Damascus. 


Can AI make Saudi sports smarter without losing its soul?

Can AI make Saudi sports smarter without losing its soul?
Updated 4 min 17 sec ago
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Can AI make Saudi sports smarter without losing its soul?

Can AI make Saudi sports smarter without losing its soul?

ALKHOBAR: Artificial intelligence is no longer a side project in global sports, it’s becoming central to performance, fan engagement, and strategy. IBM has been one of the most visible players in this transformation, bringing its AI innovations from the world’s top tournaments to Saudi Arabia’s rapidly growing sports scene.

But beyond corporate case studies, a bigger question looms: how should Saudi sports federations, clubs, and fans adapt to this wave of technology? Can AI truly deliver, or will it overpromise?

Saudi Arabia’s sports market is booming. Valued at $7.2 billion in 2023, it is expected to surpass $22.4 billion by 2030. More than $2 billion has already been invested in facilities, talent, and international events—from hosting Formula 1 to the FIFA Club World Cup.

This trajectory was highlighted in a recent Arab News op-ed by Ayman Al-Rashed, who noted how AI is central to expanding fan experiences and making Saudi sports more globally competitive. The investments align with Vision 2030’s push to diversify the economy through sports and entertainment, positioning the sector as both a cultural and financial pillar for the Kingdom.

One of IBM’s most ambitious experiments came in 2024 with Sevilla FC. Together, they launched Scout Advisor, a generative AI tool built on watsonx that analyzes more than 200,000 scouting reports. Beyond traditional stats like minutes played or goals scored, the system reads unstructured scout notes on attitude, adaptability, and playing style. For a league like the Saudi Pro League, attracting global stars, such a tool could transform recruitment.

Yet some Saudi voices caution that AI should complement—not replace—human judgment.

“AI gives us accurate numbers and predictions, but in the end human experience and field vision remain essential,” said Yasser Al-Ghamdi, a sports science student at King Saud University.

IBM’s longest-running partnerships are in tennis and golf. At Wimbledon, the company built Match Chat, an AI-powered assistant that answers fan questions in real time, analyzes probabilities, and predicts match outcomes. A similar platform at The Masters offered golf fans deeper insights into performance and strategy.

This mirrors findings from an Arab News survey earlier this year, where 80 percent of Saudi adults reported using AI tools, and one in three use them regularly. Nearly 90 percent said making Saudi Arabia an AI powerhouse should be a national priority — underscoring high expectations for localized innovation.

In Formula 1, IBM partnered with Scuderia Ferrari HP to redesign its mobile app with watsonx-powered racing insights. Fans now receive AI-generated summaries, driver comparisons, and interactive features in real time.

For Saudi Arabia, which hosts a Formula 1 Grand Prix as part of its expanding sports calendar, the potential is significant. The key, however, is ensuring these tools enhance both spectacle and grassroots value. Success will depend on balancing global best practices with local realities, benefiting players, coaches, and fans at every level.

Global partnerships only work if they are adapted to local contexts. That’s why IBM, alongside the Saudi Data and Artificial Intelligence Authority, developed ALLaM, an Arabic large language model capable of processing multiple dialects. The platform bridges linguistic gaps for fans and athletes across the Gulf, making interactions more natural and inclusive. Its impact will hinge on how it’s adopted on the ground.

This emphasis on localization and human-in-the-loop AI echoes developments in healthcare. MBZUAI graduates developed HuLP and Med-YOLOWorld, AI systems designed to work alongside doctors rather than replace them. The same principle applies to sports: AI must collaborate with coaches, referees, and trainers.

DID YOU KNOW?

• One of IBM’s most ambitious experiments came in 2024 with Sevilla FC.

• They launched Scout Advisor, a generative AI tool built on watsonx that analyzes more than 200,000 scouting reports.

• The system reads unstructured scout notes on attitude, adaptability, and playing style.

IBM highlights its ethical AI framework, stressing explainability, fairness, and data protection. But in Saudi Arabia, experts insist oversight must go beyond corporate pledges. With billions invested, federations need transparency, accountability, and governance when deploying AI.

Arab News has reported similar concerns in healthcare, with Dr. Mansoor Khan warning that “AI is not one thing, it’s a set of technologies that need to be used carefully, mapped to specific problems and workflows.” The same caution applies to sports.

Looking ahead, IBM predicts AI will play a central role in personalized fan experiences, athlete training, and recruitment. In Saudi Arabia, AI could make the Kingdom a global sports testbed. Potential applications include:

• Smart stadiums with AI crowd management and personalized fan services.

• Player development supported by AI-driven performance analytics.

• Localized fan platforms in Arabic, reflecting Saudi values.

• Sports medicine enhanced by AI tools for injury prevention and recovery.

For some, the immediate value is on the pitch.

“AI can help us track training loads and reduce injuries, but it can’t capture a player’s mental or emotional state,” said Mohammed Al-Qahtani, a sports science graduate from King Saud University.

From Sevilla’s scouting rooms to Ferrari’s circuits and Wimbledon’s courts, AI is reshaping global sports. In Saudi Arabia, the real opportunity lies not in copying global models, but in tailoring them to local culture, athletes, and fans. As the Kingdom invests heavily in infrastructure and innovation, the true test will be whether technology strengthens the human side of sport—or replaces it.


Qatar real estate sales reach $108m in early September 

Qatar real estate sales reach $108m in early September 
Updated 11 September 2025
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Qatar real estate sales reach $108m in early September 

Qatar real estate sales reach $108m in early September 

JEDDAH: Qatar's real estate market saw a notable increase in early September, with sale contracts totaling 394.35 million Qatari riyals ($108 million) over the five-day period from Aug. 31 to Sept. 4, official data showed. 

This represents an 18.5 percent rise compared with 333 million riyals recorded the previous week, from Aug. 24 to 28, according to the Ministry of Justice. 

The ministry's weekly bulletin shows that 124.5 million riyals of the total sales during this period were for residential units.  

The surge in real estate activity highlights Qatar’s continuing market dynamism, driven by both end-users and investors seeking opportunities across residential and mixed-use properties. 

The bulletin noted that “the properties traded for sale include vacant land, houses, residential buildings, mixed-use commercial-residential buildings, commercial-residential complexes, shops, commercial buildings, and residential units.”  

Sales activity was concentrated in the municipalities of Doha, Al-Rayyan, and Al-Wakra. Additional activity was reported in Al-Daayen, Al-Shamal, and Umm Salal, as well as in Al-Khor and Al-Thakhira. Major developments included The Pearl Island, Lusail 69, Al-Kharayej, Legtaifiya, and Ghar Thuaileb. 

Looking at a broader trend, the week from Aug. 17 to 21 saw total trading volumes exceed 308 million riyals, reflecting steady growth over the past three weeks, driven by increased activity in both prime urban and emerging areas. 

Monthly data for August showed that total real estate transactions reached 1.13 billion riyals across 329 deals, with Al-Rayyan, Doha, and Al-Wakra leading in transaction value. 

According to the real estate market area index, Al-Rayyan accounted for 39 percent of the total traded area, followed by Doha with 22 percent, and Al-Wakra with 14 percent. Al-Daayen and Umm Salal each represented 10 percent, Al-Shamal 3 percent, and Al-Khor and Al-Thakhira 2 percent. 


Direct Jeddah–Pristina flights open doors for Saudi investors, says Kosovo ambassador 

Direct Jeddah–Pristina flights open doors for Saudi investors, says Kosovo ambassador 
Updated 11 September 2025
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Direct Jeddah–Pristina flights open doors for Saudi investors, says Kosovo ambassador 

Direct Jeddah–Pristina flights open doors for Saudi investors, says Kosovo ambassador 

RIYADH: The launch of direct flynas flights between Jeddah and Pristina is more than a tourism milestone — it signals Kosovo’s rise as a new destination for Saudi business and investment, according to the country’s ambassador. 

Kosovo’s Ambassador to Saudi Arabia, Lulzim Mjeku, told Arab News the new air link, which will begin operating three times a week on Oct. 1, represents a historic step in building commercial bridges between the two nations. 

“The most frequent question asked of me from both countries’ business communities was: Is there a direct flight between KSA and RKS? It wasn’t until last year that both states signed the Agreement on Air Services.” Mjeku said.  

He added: “Today, as both countries have concluded several basic agreements with a focus on business, I may say that through this work, both governments have paved the way for business communities to start exploring avenues of cooperation.” 

While the connection opens Kosovo’s mountains and heritage to Saudi tourists, Mjeku emphasized that the real opportunities lie in the country’s investment climate. 

Kosovo boasts the highest internet penetration rate in Europe at 96.4 percent, a multilingual and skilled workforce, and a streamlined business environment, positioning itself as a gateway for Saudi investors entering the Western Balkans. 

“Kosovo is a vibrant country emerging in the global market,” the ambassador said. “Our workforce is skilled and multilingual, and our economy is diversifying, from construction and textiles to advanced information technology.” 

When asked whether the new connectivity would encourage Saudi investors to explore opportunities in Kosovo, Mjeku pointed to early successes in technology partnerships. 

He noted that Kosovar firms have already contributed to the Tawakkalna application in cooperation with Saudi partners and developed cybersecurity systems for hospitals in Riyadh. 

“I expect more Kosovar IT companies will find their way to the Saudi market. I also strongly believe both sides can find a win-win modus operandi and have their share in the market,” he said, adding: “Whoever moves first has the chance to succeed faster and better.” 

The competitive framework is another draw. Corporate tax is set at just 10 percent, while starting a business takes an average of 4.5 days. Investments account for 36 percent of Kosovo’s gross domestic product, with an average economic growth rate of 4.1 percent over the past eight years. “Whoever moves first has the chance to succeed faster and better,” the ambassador stressed. 

The launch of flights follows last year’s Agreement on Air Services and coincided with the first visit of a Saudi business delegation to Kosovo, led by the Federation of Saudi Chambers of Commerce, marking the 15th anniversary of diplomatic ties. 

The Kingdom’s leading low-cost carrier will operate the Jeddah–Pristina route as part of its expansion strategy, “We Connect the World to the Kingdom,” aligned with the Kingdom’s National Civil Aviation Strategy.  

The plan aims to link the Kingdom to 250 international destinations, accommodate 330 million passengers, and host 150 million tourists annually by 2030. 

For Mjeku, these developments herald a new phase in Saudi–Kosovar relations. “With these flights come opportunities, and with opportunities, we get better results and solidify our relationship on an inter-human level,” he said.