Saudi Arabia's Strategic Enablers Position It As A Global Hub For Mining And Minerals

The Vice Minister for Mining Affairs at the Ministry of Industry and Mineral Resources, Eng. Khalid bin Saleh Al-Mudaifer, highlighted the remarkable phase the mining sector is experiencing. Since 2020, there has been a surge in global interest in minerals. Saudi Vision 2030 anticipated this shift by making mining a key component of economic diversification and industrial development.

Al-Mudaifer, speaking at the ninth Future Investment Initiative (FII) session titled "Paving the Way to Global Mineral Security," emphasised Saudi Arabia's potential to become a global hub for mineral industries. The Kingdom's strategic location, geological wealth, skilled workforce, and visionary leadership are pivotal enablers.

According to Al-Mudaifer, Vision 2030 set the groundwork for establishing a top-tier mining sector. This effort mirrors the development of one of the world's largest oil, gas, and petrochemical sectors. The aim is to make mining and minerals a core pillar of Saudi Arabia's industrial prowess.

The Arabian Shield, covering 700,000 square kilometres, remains largely unexplored. The estimated value of mineral resources in Saudi Arabia has increased from SAR5 trillion ($1.3 trillion) to approximately SAR9.4 trillion ($2.5 trillion). This growth results from enhanced geological surveys and exploration initiatives.

Foreign investment plays a significant role in Saudi Arabia's mining sector, accounting for about 66% of total investments. Exploration spending in 2024 doubled from the previous year, reaching SAR1.05 billion compared to SAR501 million in 2023. This positions Saudi Arabia among the fastest-growing mining regions globally.

The Kingdom has established a modern mining ecosystem prioritising transparency and stability to attract investors. It offers one of the most competitive regulatory frameworks worldwide, including allowing 100% foreign ownership for investors.

Future Minerals Forum

Al-Mudaifer invited investors and experts to join the fifth Future Minerals Forum in Riyadh from January 13 to 15, 2026. The event will be held under the theme "Dawn of a Global Cause" with participation from ministers and CEOs of leading global mining companies.

This natural wealth serves as a foundation for building a world-class mining industry in Saudi Arabia. The Kingdom's commitment to fostering international partnerships further enhances its position as a leader in the global mineral sector.

With inputs from SPA