RIYADH: Saudi Arabia has positioned itself as a leading force in the global mining industry, using its platform at an international conference to detail a period of transformation driven by Vision 2030.
In a ministerial address during the International Mining and Resources Conference in Australia, Khalid Al-Mudaifer, the Kingdom‘s vice minister of industry and mineral resources for mining affairs, outlined how the sector has evolved from a domestic industry into a major international hub for investment and innovation.
He emphasized that this transformation is built on a foundation of stability, transparency, and investor trust, according to a press release.
“Since Vision 2030, Saudi Arabia has designated mining as the third pillar of its industrial economy,” Al-Mudaifer stated. “This strategy has driven mining’s gross domestic product contribution to double, reaching SR136 billion ($36.27 billion) in 2024.”
The sector has attracted more than SR170 billion in investments, while exploration spending has increased fivefold since 2020, exceeding SR1.05 billion in 2024 alone, the vice minister said.
This activity is fueled by surging investor interest, with the number of active exploration companies exploding from just six in 2020 to 226 in 2024, a 38-fold increase. Notably, foreign investors now make up 66 percent of total license bidders, demonstrating strong international confidence.
Al-Mudaifer invited the global mining leaders at IMARC to attend the fifth edition of the Future Minerals Forum, scheduled for January 13-15, 2026, in Riyadh. He described the FMF as a crucial global platform for shaping the future of the minerals industry and promoting sustainable, responsible supply chains.
Alongside the conference proceedings, the Kingdom hosted a dedicated “Saudi Showcase.” This platform highlighted the nation’s thriving mining ecosystem and the specific investment opportunities across its upstream, midstream, and downstream sectors, with a particular focus on the vast, underexplored potential of the Arabian Nubian Shield.
The vice minister also held several bilateral meetings with counterparts and senior officials from the global mining sector.
