Mining sector: Rapid growth, strong global position under Vision 2030

The mining sector in Saudi Arabia is undergoing a fundamental transformation driven by Vision 2030. Thus, it became one of the Kingdom's most promising economic pillars.

 

This transformation has been reflected in the development of legislation, enhancement of the investment environment, and the acceleration of geological exploration activities, which have contributed to boosting the economic value of mineral resources and strengthening the Kingdom’s global standing in mining-related indicators.

 

The Kingdom has recorded significant progress in investment, policy, and geological survey indicators, alongside increasing mining exploration activity.

 

Global Progress in Mining Indicators

Indicator

Global Ranking

Mining Investment Attractiveness Index

10th

Mining tax regime

First

Sub-index: Regulatory consistency and non-overlap

First

Environmental regulation stability and clarity

First

Environmental regulation stability and clarity

Second

Land access and community development

Third

Policy and regulatory framework

Fourth
 

The mining sector has gone through four development stages from 1930.

 

Stages of Mining Sector Development

Stage

Period

Key Features

First stage

1930 - 1970

Limited exploration and establishment of regulatory bodies

Second stage

1970 -2000

Expansion of exploration and entry of global companies

Third stage

2000 - 2015

Infrastructure development and integration with industry

Fourth stage

2016-To Present

Launch of Vision 2030 and comprehensive sector transformation

 

The mining sector in Saudi Arabia has witnessed many initiatives and achievements since the launch of Vision 2030.

 

Key Mining Developments

Year

Key Initiatives and Achievements

2016

Mineral resource valuation estimated at SAR 4.9 trln

2017

Start of comprehensive mining strategy preparation

2018

Comprehensive Mining Strategy launched

2019

Ministry of Industry and Mineral Resources established

Ta'adeen Platform launched

2020

Mining Investment Law issued

2021

Ta’adeen Platform and ESNAD launched

 

Geological Survey Program and National Geological

Database launched

2022

First public exploration licensing round

 

Future Minerals Forum launched

 

Exploration incentives worth SAR 682.5 bln offered

 

2023

Launch of Nuthree incubator

 

Establishment of Mining Fund and Manara Minerals

 

Exploration incentives worth SAR 682.5 bln

2024

Mineral resource value increased to SAR 9.4 trln  

 

Ta’adeen 2.0 and National Minerals Program launched

 

Amendment to Precious Metals and Gemstones Law

 

2025

Mining Innovation Studio launched 2025

 

Global Minerals Innovation Competition introduced

 

Launch of the Saudi Geological Survey Academy and its digital platform

Licensing responsibilities streamlined

 

The role of mining companies has grown in driving the sector’s expansion, taking advantage of the opportunities that have broadened investment prospects across various mining activities. This is reflected in the increase in mining licenses, particularly in specialized activities, rising from 150 licenses in 2021 to 272 in 2025.

 

Mining Exploitation Licenses

Year

Number of Licenses

2021

170

2025

275
 

The number of mining exploration licenses increased from 499 in 2021 to 1,018 in 2025.

 

Mining Exploration Licenses

Year

Number of Licenses

2021

499

2025

1018
 

Geological survey activities in the Kingdom have accelerated, increasing from 1.7% in 2021 to 65% in 2025.

 

Geological Survey Progress

Year

Growth Rate

2021

1.7%

2022

25%

2023

+30%

2024

51%

2025

65%

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