Saudi Arabia Announces SR375 Billion Mining Investment Opportunities
At the BMO Global Metals, Mining, and Critical Minerals Conference in Miami, Al-Mudaifer discussed Vision 2030's impact. The initiative modernized Saudi Arabia's mining laws and attracted domestic and international investors through programs like the National Minerals Program. Government partnerships with private firms have attracted major global companies. These companies seek access to Saudi Arabia's mineral reserves. These reserves now value SR9.3 trillion, rising from SR5 trillion in recent years.
HE Vice Minister for Mining Affairs, Eng. Khalid AlMudaifer, highlighted the promising investment opportunities in Saudi Arabia's mining and mineral sector as part of #Vision2030, emphasizing the Kingdom's role in enhancing the sustainability of global supply chains and… pic.twitter.com/9pLZajbyTw
— وزارة الصناعة والثروة المعدنية (@mimgov) February 26, 2025
A dramatic 22-fold increase in exploration companies operating in the Kingdom, from six in 2020 to 133 in 2023, reflects soaring global demand for critical minerals. Annual exploration spending has surged by 32%, far exceeding the global average of 6-8%, with total investments reaching SR1.33 billion. These efforts have not only unlocked new reserves but also created jobs, directly supporting Vision 2030's economic diversification goals. Saudi Arabia Eyes Long-Term Global Competitiveness
Moreover, Al-Mudaifer emphasized that the mining sector is now central to the Kingdom's economic strategy. By fostering public-private partnerships and leveraging its mineral wealth, Saudi Arabia aims to solidify its position as a key supplier of critical minerals. The Kingdom, through sustained investment and strategic alliances, will dominate the global mining landscape for decades.
Saudi Arabia's SR375 billion mining investment plan exemplifies its unwavering commitment to Vision 2030. As exploration expands and international partnerships strengthen, the Kingdom is well on its way to transforming its mining sector into a driver of sustainable economic growth and global leadership.
Short link :
Post Views: 16
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Saudi Gazette
6 hours ago
- Saudi Gazette
Saudi Arabia concludes participation in UN High-Level Political Forum 2025 on sustainable development
Saudi Gazette report NEW YORK — Saudi Arabia concluded its participation in the 2025 United Nations High-Level Political Forum on Sustainable Development, which brought together nations to review global efforts and progress toward achieving the Sustainable Development Goals (SDGs) outlined in the 2030 Agenda. The forum ran from July 14 to 23 at the UN headquarters in New York. The Saudi delegation was led by Minister of Economy and Planning Faisal Al-Ibrahim and included representatives from nine government entities: the Ministries of Economy and Planning, Foreign Affairs, Health, Human Resources and Social Development, and Environment, Water and Agriculture; the Saudi Fund for Development; Madinah Development Authority; the National Center for Wildlife; and the Quality of Life Program. In his remarks, Minister Al-Ibrahim highlighted Saudi Arabia's rapid progress on sustainable development indicators within the G20 over the past decade, attributing it to Vision 2030, which he described as a national project born from the aspirations of the leadership and the Saudi people. "Vision 2030 has enabled the Kingdom to become the fastest-progressing G20 country in SDG indicators over the last 10 years," Al-Ibrahim said. "This progress reflects the power of aligning ambition with structured action, strong political will, and effective policies." He also pointed to innovative local initiatives, such as the launch of the Sustainable Development Atlas by Madinah City, which covers all 70 of its neighborhoods and supports evidence-based policy design through comprehensive data mapping and scenario modeling. Saudi Arabia's water sustainability efforts were spotlighted as the Kingdom was recognized by the UN Water Committee for its clear progress on SDG 6 (clean water and sanitation), particularly in integrated water resources management. The Ministry of Environment, Water and Agriculture presented key lessons learned in securing water sustainability in one of the world's most arid regions during a dedicated side event. Additionally, the Ministry of Economy and Planning, in collaboration with the Ministry of Human Resources and Social Development, the Quality of Life Program, and the Madinah Development Authority, organized a side event focusing on cross-sectoral integration, institutional capabilities, and innovation to accelerate progress toward the SDGs. The Saudi Fund for Development (SFD) also participated with an informational pavilion showcasing its contributions to global sustainable development through the financing of projects in health, education, energy, infrastructure, industry, and mining. On the sidelines of the forum, Minister Al-Ibrahim held a series of bilateral meetings with senior officials to explore opportunities for strategic partnerships, economic cooperation, and investment. The High-Level Political Forum is held annually under the auspices of the UN Economic and Social Council and serves as a key platform for tracking SDG progress since its inception in 2012.
Argaam
6 hours ago
- Argaam
CMA to prioritize rated debt offerings under new incentive plan
The Capital Market Authority (CMA) approved a new incentive to fast-track public debt offering applications for issuers or instruments rated by a CMA-licensed credit agency, with the measure effective through end-2026. The CMA said the move aims to boost efficiency and transparency in the debt market, strengthen its role in business financing and growth, and encourage rated issuers to widen investor participation and deepen the market. The initiative supports the CMA's broader strategy to deepen the Saudi capital market, enhance transparency and appeal, and aligns with Vision 2030 goals to diversify funding sources and boost financial sustainability. The CMA stressed that credit ratings are more than creditworthiness indicators, they are essential tools for enabling investors to make informed decisions based on clearer risk assessments. By fast-tracking rated offerings, the CMA aims to develop a more stable and mature debt market, broaden the investor base, strengthen market confidence, and support better risk assessment of listed instruments. The CMA expects the move to ease corporate access to debt markets, boost issuance volume, and enhance offering appeal, noting that credit ratings help financial advisors market deals, particularly to institutional and qualified investors. Credit ratings provide forward-looking assessments of credit risk, indicating default likelihood and potential creditor losses. Issuers use them to demonstrate credit strength and attract investors, while investors rely on them for credit analysis and debt evaluation.
Arab News
7 hours ago
- Arab News
Saudi Arabia sees record 144% rise in new mining exploration licenses in H1
RIYADH: Saudi Arabia issued a record number of new mining exploration licenses in the first half of 2025, marking a 144 percent year-on-year rise, official data showed. A total of 22 licenses were issued during the period, up from just nine in the same period last year, reflecting growing investor interest and the government's push to build a more competitive and attractive mining sector, according to a statement from the Ministry of Industry and Mineral Resources. The rise aligns with the rapid growth of the Kingdom's mining industry, a central pillar in its Vision 2030 diversification strategy. Saudi Arabia aims to increase the sector's contribution to gross domestic product from $17 billion to $75 billion by 2035. The effort is backed by plans to accelerate exploration and development of the Kingdom's estimated mineral wealth, valued at over SR9.4 trillion ($2.5 trillion). The ministry release stated: 'The official spokesman for the Ministry of Industry and Mineral Resources, Jarrah bin Mohammed Al-Jarrah, explained that the number of companies investing in the new mining exploitation licenses issued during the first half of this year reached 23 mining companies, including 16 companies obtaining mining licenses for the first time.' It added: 'The total volume of investments in these licenses exceeds SR134 million, and they cover an area of 47 sq. km.' The ministry's spokesperson said the projects covered by these licenses are expected to produce approximately 7.86 million tonnes annually of various mineral ores, including salt, clay, silica sand, low-grade iron ore, feldspar, and gypsum. Al-Jarrah also noted that the total number of mining and small-mine exploitation licenses currently active in the Kingdom stands at 239. These include 32 Category A licenses for strategic minerals such as gold, copper, phosphate, and bauxite, and 207 Category B licenses for industrial minerals including silica sand, gypsum, limestone, salt, and clay. Earlier in July, Vice Minister of Industry and Mineral Resources Khalid Al-Mudaifer told Asharq Business that the Kingdom's mining reforms have helped attract $32 billion in investments across projects involving iron, phosphate, aluminum, and copper. He added that this accounts for nearly one-third of Saudi Arabia's target to attract $100 billion in mining investments by 2030. The vice minister added at the time that mineral exploration spending in the Kingdom has quadrupled since 2018, reaching $100 per sq. km, with an annual growth rate of 32 percent, significantly above the global average of 6 to 8 percent. Al-Mudaifer also said mineral exploration spending in the Kingdom has quadrupled since 2018, now reaching $100 per sq. km — an annual growth rate of 32 percent, significantly outpacing the global average of 6 to 8 percent.
