Al-Mudaifer says Saudi mining exports surge over 80%

Mining exports have grown by more than 80%, as the Kingdom expands in strategic industries such as phosphate, iron, aluminum, and copper, in addition to gold projects, Al-Ekhbariya TV reported, citing Khalid Al-Mudaifer, Vice Minister of Industry and Mineral Resources for Mining Affairs.

Vision 2030 led to a fundamental transformation in the mining sector, with Saudi Arabia moving from the bottom of the Fraser global index in 2013 to advanced ranks in 2024, benefiting from strong regulations and a stable investment environment.

He explained that Saudi Arabia’s Mining Investment Law is now among the best worldwide, thanks to its clarity, transparency, and protection of the rights of investors, the state, and society.

Also, political stability strengthened the confidence of international investors, while the national geological survey launched in 2021 built a modern database containing more than 80 years of information, enabling global investors to study opportunities with precision.

Al-Mudaifer pointed out that reforms increased the number of exploration licenses from 50 per year before Vision 2030 to nearly 400 annually today. Likewise, the areas offered for investment have expanded to 50,000 square kilometers per year, compared to only 5,000 sq km previously.

As a result, the estimated value of mineral resources doubled from SAR 5 trillion to nearly SAR 10 trillion.

He also stressed the remarkable success of the Future Minerals Forum, which now attracts more than 18,000 participants annually, making it one of the most prominent global conferences in its field.

Al-Mudaifer reaffirmed that mining has now become the third pillar of Saudi industry after oil, gas, and petrochemicals, contributing to enabling global supply chains, creating jobs, and developing local communities, thereby strengthening the Kingdom’s position as a leading global destination for mining investment.