Saudi Arabia’s critical minerals value estimated at over $150B: Official

Abdullah Al-Shamrani, CEO of the Saudi Geological Survey (SGS)

The value of critical minerals in Saudi Arabia is estimated at over $150 billion (or approximately SAR 563 billion). This value was estimated although the available data covers only 30% of the Arabian Shield region, Abdullah Al-Shamrani, CEO of the Saudi Geological Survey (SGS) told Bloomberg TV.  

Al-Shamrani anticipated the discovery of additional elements in the coming years. He mentioned that 48 out of 76 elements have been discovered so far and will be analyzed. The discovered gold reserves in the Kingdom surpassed 100 million ounces, with a value of nearly $390 billion (SAR 1.46 trillion).

The calculation of the updated estimates of the Saudi mineral reserves, announced today, amounting to $2.5 trillion, is based on two mechanisms. The first involves the quantity of minerals estimated by available data, along with their market value.

SGS collaborates with companies from technologically advanced countries in survey operations, such as China, Finland, South Africa, and France. The goal is to achieve speed, efficiency, and reliability, contributing to attracting investors to the Saudi mineral sector.