Saudi Arabia announced a new initiative to strengthen mining infrastructure as the Kingdom recently hosted global industry leaders in Riyadh. The forum attracted ministers and senior officials from more than 100 countries and representatives from over 70 organisations.
Saudi Arabia Positioning Mining As Core Pillar Of Diversification
The mining infrastructure enablement initiative was jointly prepared by the Ministry of Industry and Mineral Resources and the Saudi Authority for Industrial Cities and Technology Zones. It aims to foster a resilient, responsible and future-ready global mining ecosystem and underscores Saudi`s ambition to position mining as a core pillar of economic diversification. Importantly, the plan is designed to reduce investment risk and accelerate project development across the sector. The initiative is a step towards Saudi Arabia strengthening global mineral supply resilience while advancing its Vision 2030 objectives. The Kingdom is committed to unlocking SAR 9.37 trillion (USD 2.5 trillion) of mineral potential by offering significant exploration opportunities. Accordingly, its ninth exploration round awarded 172 mining sites to 24 companies and consortiums – its largest licensing round to date. Significant exploration opportunities will continue to be offered through competitive tender rounds throughout 2026 and 2027.
Significant Resources Being Invested Into Mining Sector
Demonstrating its commitment to the sector, the Kingdom has completed a geophysical and geochemical survey mapping of the Arabian Shield. Exploration spending increased over five times in the last few years to SAR 1.05 billion (USD 280 million) in 2024. In addition, to address capital constraints, a financing portal has recently been launched in cooperation with the Bank of Montreal. Furthermore, the Ministry recently launched its first global future mineral pioneer competition. Designed to translate mining section innovation from concept to practical solutions it has attracted over 1,800 innovators from 57 countries.
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