RIYADH: Saudi Arabia is promoting upcoming exploration opportunities across 5,000 sq. km mineralized belts in 2025 as the Kingdom continues its steadfast growth in the mining sector, according to a minister.
Speaking at the Future Minerals Forum in Riyadh on Jan. 15, Saudi Arabia’s Minister of Industry and Mineral Resources Bandar Alkhorayef said that the Kingdom’s mining sector is the fastest growing globally, with a mineral potential estimated at $2.5 trillion.
This allocation of new exploration sites to tap mineral wealth is part of Saudi Arabia’s efforts to establish mining as the third pillar of the Kingdom’s industrial economy.
Earlier this month, Saudi Arabia allocated five sites for establishing mining complexes in the Makkah and Asir regions as part of the nation’s strategy to attract quality investments, enhance transparency, and support local communities.
“Guided by our Vision 2030, Saudi Arabia’s mining sector has become the fastest growing globally, with a mineral potential estimated at $2.5 trillion. Our focus on regulatory frameworks, innovation, and infrastructure development has helped the Kingdom to become the top-tier destination for mining investment and exploration,” said Alkhorayef.
He added: “This year also, we are promoting upcoming exploration opportunities across 5,000 sq. km of promising mineralized belts. Our exploration incentives program, launched only last year, is already giving results with six companies receiving funding.”
Alkhorayef said that Saudi Arabia has also launched the Mining Innovation Studio aimed at turning Riyadh into a global hub for the industry and accelerating cutting-edge technologies.
“This is just one step toward realizing Riyadh’s vision of becoming the Silicon Valley of mining,” added the minister.
During the speech, Alkhorayef said that events like FMF are crucial to elevating the mining sector and ensuring sustainable growth of the industry.
Highlighting the progress of the forum, the Saudi minister added that the FMF has evolved and grown, with the number of attendees increasing from 3,500 in 2022 to over 20,000 in 2025.
“Within a few years, we could make FMF the most prominent international platform for minerals around the world, contributing to forming the future of the sector and achieving sustainable growth,” said Alkhorayef.
He added: “This year, under the theme, ‘The Year of Impact,’ we gather with a shared commitment to tackle some of the most pressing challenges of our times; ensuring a sustainable energy transition, addressing critical mineral shortage, and fostering economic prosperity for all.”
During the talk, the minister added that this year’s FMF will also witness the launch of the first-ever regional leadership roundtable focussing on Africa, Central Asia, and Latin America to create a “powerful global minerals impact.”
He further said the forum will also witness several debates featuring industry leaders tackling issues such as resource depletion, sustainability, and stakeholder engagement.
“Future Minerals Forum 2025 is promising to be a catalyst for actionable solutions and transformative change,” said Alkhorayef.
