JEDDAH: French companies were pitched investment opportunites in Saudi Arabia’s mining sector as the Kingdom prepares to launch a competitive tender on Sept. 28 for 162 new mining exploration sites.
Some 15 firms took part in a virtual seminar, where they heard about projects located in the Al-Naqrah and Sukhaybarah Al-Safra belts in the Madinah region, according to a press release from the Ministry of Industry and Mineral Resources.
The plan is part of a broader effort to open more than 50,000 sq. km of mineralized belts to investors by 2025.
The initiative reflects Saudi Arabia’s drive to accelerate mineral exploration and attract diverse investment, leveraging the Kingdom’s mineral wealth — estimated at SR9.4 trillion ($2.5 trillion) — to boost non‑oil revenue alongside the oil and petrochemical sectors. It also aligns with Vision 2030 goals to develop the mining sector, maximize economic benefits, and establish mining as a third pillar of industry.
In the press release, the ministry stated: “The seminar highlighted the advanced infrastructure supporting mining projects, including transportation, communications, and logistics networks. This reduces the timeframe for implementing and operating mining projects and enhances the competitiveness and attractiveness of the mining investment environment in the Kingdom.
The seminar also served as preparation for the Saudi-French Mining Day on Oct. 8 in Riyadh, organized in partnership with the French Embassy, as the Kingdom seeks to establish mining as a third industrial pillar under Vision 2030.
It will underscore both nations’ commitment to advancing collaboration in critical minerals, technology transfer, and sustainable mining practices.
The meeting follows Minister of Industry and Mineral Resources Bandar Alkhorayef’s visit to France in early May, where he held discussions with senior officials from several French companies, including the CEO of Orano Mining.
The Paris visit focused on securing a stable supply of critical minerals, such as lithium and cobalt, essential to Saudi Arabia’s green energy initiatives and the growing electric vehicle sector.
Alkhorayef also met with France’s Interministerial Delegate for Strategic Minerals and Metals Supplies, Benjamin Gallezot, to explore ways to strengthen global supply chain resilience and promote sustainability in the mining sector.
