According to Fanack, Saudi Arabia has the largest natural resource deposits in the Middle East, with oil and gas being the most important. According to 2008 estimates, the Kingdom has over 267 billion barrels of recoverable oil reserves, which will last for several decades at the current oil-extraction rates of between 9 and 10 million barrels daily. Other mineral resources include: gold, copper, silver, zinc and iron.
According to a report filed by 24/7 Wall St in 2012, Saudi Arabia is ranked third globally among the 10 countries with the most plentiful and valuable natural resources. Saudi Arabia has almost 20 percent of all known oil resources in the world, the largest of any country. There are copper and zinc resources located in the al-Masane region near Riyadh, which are estimated at over seven million tonnes. An estimated 84 tonnes of iron are reserved in Wadi Sawawin. Industrial minerals such as gypsum, sulphur, mica, salt and feldspar are also found in the east of the kingdom. Gold has been discovered at around 600 sites across the country, and 29 of those sites are currently being drilled. The gold deposits are located in the rocks of the Arabian-Nubian shield along the Red Sea.