Mining Investments In Saudi Arabia Target SAR92 Billion By 2030 Amid Bold Investment Plans

Saudi Arabia’s National Investment Strategy plans a sharp rise in funds for the mining sector, according to Minister of Investment Khalid Al-Falih. Capital is expected to grow from about SAR45 billion in 2024 to nearly SAR92 billion during 2025–2030, with the plan linked to projects discussed at the Future Minerals Forum 2026 in Riyadh.

Al-Falih explained that the strategy targets strong financial performance across mining projects. The aim is to provide an investment climate able to generate average internal rates of return between 20% and 30%. The plan also includes a goal to double foreign direct investment in the mining sector over the coming years.

The minister spoke during a dialogue session titled "Time for Bold Action: Creating a Global Mineral Fund to Supercharge Investment." The session took place on the sidelines of the Future Minerals Forum 2026 in Riyadh. Discussions focused on how new global capital structures could support mining projects at different stages.

Al-Falih stated that the current period demands firm and coordinated measures from governments, private investors, and major financial institutions. The objective is to address funding gaps and speed up the development of mining ventures across the full value chain. He highlighted that access to capital remains a central barrier for many large-scale resource projects worldwide.

The minister underlined that demand for strategic and critical minerals is expanding in many regions. Al-Falih stressed that this trend reflects a long-term structural change rather than a short market swing. He linked this shift to industrial needs, including energy transition technologies that depend on secure and diverse mineral supply sources.

To support these ambitions, Saudi Arabia has been adjusting domestic policies for the mining sector. The Kingdom has raised exploration spending fivefold between 2020 and 2024. Authorities are also working to reduce the time needed for projects to move from discovery to production, with a target window of eight to ten years.

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Infrastructure is a central part of Saudi Arabia’s mining offer to investors. Al-Falih noted that integrated networks of roads, railways, ports, and logistics services are designed to serve current and future mines. These systems link to established value chains in aluminium and phosphate, which are positioned to support processing and downstream industries.

The dialogue session examined wider obstacles facing international mining investment. Participants considered regulatory risks, long project lead times, and price volatility. Speakers also discussed ways to align investor expectations with national resource strategies while keeping pace with fast growth in global demand for critical minerals used in various modern technologies.

The panel brought together several global investment and industry figures. The session included Managing Partner and Deputy Group Chief Executive at Orion Resource Partners Michael Barton, Chief Strategy Officer of Energy Pathways at The Carlyle Group Jeff Currie, Founder and Chairman of Integra Capital Dr. José Luis Manzano, Head of Global Affairs at Appian Advisory Dominic Raab, and President and Chief Executive Officer of Ivanhoe Electric Taylor Melvin.

Al-Falih’s comments presented Saudi Arabia’s mining sector as a key part of the National Investment Strategy between 2024 and 2030. With higher exploration budgets, shorter project timelines, and expanded infrastructure, the Kingdom is seeking more capital, including foreign direct investment, while responding to long-term global demand for strategic minerals discussed at the Future Minerals Forum 2026.

With inputs from SPA