Maaden eyes double gold production by 2030: CEO

Robert Wilt, CEO of Saudi Arabian Mining Co. (Maaden)

Saudi Arabian Mining Co. (Maaden) is rolling out a growth program with new targets as part of a strategy update to double gold output by 2030 and develop a rare metals supply chain, CEO Robert Wilt told the Financial Times.

He said the company will focus on organic growth. “We will blow people’s hair back with the scale of the reserve, and how quickly we are going to get there in terms of production.”

“We are all about speed and scale,” said Wilt.

Maaden produced 495,000 ounces of gold in 2024, according to Argaam’s data.

Darryl Clark, Maaden’s Senior Vice President of Exploration & Resource Development, said the firm invests about SAR 750 million ($200 million) a year in gold and copper exploration.

Darryl Clark, Maaden’s Senior Vice President of Exploration & Resource Development, earlier told Argaam that the firm invests about SAR 750 million a year in gold and copper explorations.

It also announced new drilling results at the Mansourah-Massarah mine showing strong gold mineralization beneath current zones and high-quality extensions at depth, highlighting future mining potential.