Riyadh: Vice Minister for Mining Affairs at the Ministry of Industry and Mineral Resources, Eng. Khalid bin Saleh Al-Mudaifer, has stated that Saudi Arabia is strategically positioned to become a global hub for the mining and minerals sector. He highlighted that the sector is undergoing a significant transformation amid a surge in global interest in minerals since 2020, with Saudi Vision 2030 playing a pivotal role in this shift by incorporating mining as a key component of economic diversification and industrial development.
According to Saudi Press Agency, during a session titled ‘Paving the Way to Global Mineral Security’ at the ninth Future Investment Initiative (FII), Al-Mudaifer emphasized the Kingdom’s strategic advantages, including its geographic location that connects three continents, vast geological resources, skilled workforce, and visionary leadership. He underscored that Vision 2030 has established a robust foundation for developing a world-class mining sector, similar to the Kingdom’s renowned oil, gas, and petrochemical industries. Al-Mudaifer affirmed that mining and minerals are poised to become the third pillar of Saudi Arabia’s industrial strength, supported by abundant natural resources, talent, a solid legislative structure, and investment stability.
Al-Mudaifer also pointed out the untapped potential of the Arabian Shield, which covers 700,000 square kilometers and whose mineral resource value has significantly increased from SAR5 trillion ($1.3 trillion) to SAR9.4 trillion ($2.5 trillion) due to extensive geological surveys and exploration efforts. He indicated that this natural wealth provides a foundation for establishing a world-class mining industry in the Kingdom.
He further explained that Saudi Arabia has developed a modern mining ecosystem characterized by transparency, stability, and investor appeal. Currently, foreign investment constitutes approximately 66% of the total mining investments. He revealed that exploration spending for 2024 has doubled from the previous year, reaching SAR1.05 billion compared to SAR501 million in 2023, positioning the Kingdom as one of the fastest-growing mining regions globally.
Al-Mudaifer noted that Saudi Arabia remains open to international collaborations and offers one of the world’s most competitive regulatory frameworks, which includes provisions for 100% foreign ownership for investors. He concluded by inviting investors and industry experts to attend the fifth edition of the Future Minerals Forum in Riyadh from January 13 to 15, 2026. The event, themed ‘Dawn of a Global Cause,’ will feature participation from ministers and CEOs of leading global mining companies.
