Important Facts of the News
- Mining sector interest surged globally since 2020.
- Saudi Vision 2030 identifies mining as a key economic pillar.
- Arabian Shield covers an underexplored area of 700,000 sq km.
- Saudi mineral wealth now estimated at SAR9.4 trillion.
- Foreign investment makes up 66% of mining sector investments.
- Exploration spending in 2024 reached SAR1.05 billion.
- Mining now set to become the third industrial pillar in Saudi Arabia.
- Saudi Arabia offers 100% foreign ownership in mining.
- Future Minerals Forum 2026 to be held from January 13 to 15 in Riyadh.
- Forum theme: “Dawn of a Global Cause”.
Saudi Arabia Ready to Lead Global Mining Transformation
Saudi Arabia is emerging as a powerful force in the mining and minerals sector as it steps into a crucial stage of growth. The shift comes during a period of heightened international demand for minerals, a trend that has accelerated since 2020. In alignment with this shift, Saudi Arabia’s Vision 2030 has placed a strong emphasis on mining as a cornerstone of national industrial expansion and economic diversification.
Strategic Advantages Position the Kingdom as a Mining Powerhouse
Speaking at the ninth Future Investment Initiative (FII) in Riyadh during a panel on “Paving the Way to Global Mineral Security,” Vice Minister for Mining Affairs, Eng. Khalid bin Saleh Al-Mudaifer, highlighted key advantages that position Saudi Arabia to become a global mining hub. These include a prime geographic location linking three continents, immense geological reserves, skilled professionals, and a forward-thinking regulatory environment.
Al-Mudaifer pointed out the groundwork laid by Vision 2030, aimed at building a mining ecosystem on par with the country’s established oil, gas, and petrochemical sectors. With a strong foundation of natural wealth and a world-class framework, Saudi Arabia aims to anchor mining as the third industrial pillar of its economy.
Massive Mineral Wealth and Growing Investor Confidence
The Arabian Shield, spanning 700,000 square kilometres, remains largely unexplored, offering huge untapped mining potential. Recent surveys and exploration have raised the Kingdom’s mineral resource estimate from SAR 5 trillion to SAR 9.4 trillion. This upward revision comes as Saudi Arabia accelerates its geological initiatives.
The Kingdom’s mining sector has also become highly attractive for investors, with foreign investments making up nearly two-thirds of total sector funding. Exploration spending doubled in 2024, reaching SAR 1.05 billion compared to SAR 501 million in 2023, placing Saudi Arabia among the most dynamic mining markets in the world.
Open to International Investment and Collaboration
Saudi Arabia continues to promote mining as a global opportunity by offering one of the most competitive regulations, including full foreign ownership rights. Al-Mudaifer encouraged global firms and specialists to take part in the upcoming Future Minerals Forum 2026 in Riyadh, set for January 13 to 15, themed “Dawn of a Global Cause.”
Looking Ahead
The forum is expected to draw senior government officials and industry leaders from across the globe, underscoring Saudi Arabia’s growing role in shaping the future of minerals and resource security.