Saudi Arabia positioning minerals as strategic pillar of industrial ambitions

 

Riyadh set out to turn mining into a major contributor to GDP

Saudi Arabia is reshaping its economic future, and mining sits firmly at the centre of that transformation. Long defined by its role as the world’s energy heavyweight, the Kingdom is now positioning minerals and metals as a strategic pillar of its post-oil industrial ambitions.

Under Vision 2030, Riyadh has set out to turn mining into a major contributor to GDP, a magnet for foreign investment and a driver of downstream value creation across the wider economy. As 2026 unfolds, the sector stands at a pivotal moment — transitioning from policy ambition to execution — and the global mining industry is paying close attention.

Saudi Arabia is expanding exploration, liberalising investment frameworks and actively courting international partners. The goal is to unlock what officials and analysts describe as a multi-trillion-dollar mineral endowment, reshaping domestic industry while embedding the Kingdom more deeply into global supply chains.

 

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Mining as a strategic pillar

Mining’s prominence in Saudi economic planning is deliberate. Vision 2030 explicitly identifies the sector as a core component of diversification, alongside energy, logistics and manufacturing.

Government estimates value Saudi Arabia’s mineral resources in the hundreds of billions of dollars, with projections rising sharply as exploration accelerates. The Kingdom has launched one of the world’s largest geophysical and geochemical survey programmes, covering around 600,000 square kilometres, including large areas of the mineral-rich Arabian-Nubian Shield.

By 2030, mining’s contribution to GDP is expected to triple, reaching approximately SAR 260 billion (around $103 billion), while generating tens of thousands of jobs. The sector is also embedded within the National Industrial Development and Logistics Program (NIDLP), which aims to stimulate more than SAR 1.7 trillion in private investment across industry, energy, mining and logistics by the end of the decade.

Reform, regulation and investor confidence

One of the most significant shifts in Saudi mining has been regulatory reform. The Saudi Mining Investment Law, introduced in 2021, established a clearer, more transparent framework for licensing and operations. Authorities say the law prioritises governance, streamlined approvals and strong environmental and sustainability standards — all essential for attracting long-term capital.

Digitalisation has reinforced these reforms. Electronic licensing platforms have reduced bureaucracy and improved predictability, aligning Saudi Arabia more closely with mature mining jurisdictions.

 

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The impact is visible in international rankings. Saudi Arabia has climbed sharply in global mining investment attractiveness indices, moving from the bottom tier into the top quartile, while its policy perception scores have also improved. These changes are critical for an industry where projects often require billions of dollars and decades-long commitments.

From potential to discovery

Saudi Arabia’s geological ambition is matched by the scale of its exploration push. Exploration spending has increased several-fold in recent years, while the number of active exploration companies has grown from a handful to more than 200 — around two-thirds of them foreign.

The availability of the National Geological Database, offering decades of survey data, has been a major draw for international explorers. New licensing rounds and expanded surveys are already yielding interest across copper, zinc, gold and other minerals, with companies from Asia and beyond securing exploration ground.

This shift from policy announcement to active drilling marks a critical transition — from theoretical potential to discoverable, investable resources.

Beyond oil: minerals and global supply chains

Saudi Arabia’s mining strategy is closely tied to global demand for critical minerals. Electrification, renewable energy and advanced manufacturing are driving surging demand for copper, lithium, nickel and rare earth elements, while governments and companies seek to diversify supply chains away from geopolitical bottlenecks.

The Kingdom is positioning itself not merely as a raw material supplier, but as a reliable, responsible partner within global mineral value chains. Initiatives such as the Future Minerals Forum reflect this ambition, placing Saudi Arabia at the centre of international discussions on sustainable mining and supply security.

Emerging partnerships, including rare earth refining ventures with international participants, highlight how Saudi mining policy aligns with global efforts to reduce concentration risk and build diversified production hubs.

Commercial opportunity and collaboration

The expansion of Saudi mining creates broad opportunities for mining equipment, technology and services (METS) providers. Demand is emerging across exploration, surveying, drilling, mineral processing, mine infrastructure, consultancy and skills development.

 

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International trade bodies note that experienced METS firms — particularly those with strengths in digitalisation, safety, environmental services and productivity enhancement — are well positioned to support Saudi Arabia’s ambitions.

Formal cooperation is also increasing. Platforms such as bilateral mining forums are helping connect policymakers, investors and industry leaders, facilitating market entry, joint ventures and technology transfer.

Jobs, skills and domestic capability

Mining’s growth carries significant socio-economic implications. Official projections link sector expansion to job creation, skills development and regional economic diversification. From exploration camps to processing facilities, demand is rising for technical, environmental and management expertise.

Recent partnerships and licence realignments among Saudi mining companies reflect a growing focus on operational efficiency and accelerated development. These moves signal a broader objective: building domestic capability and a resilient local mining ecosystem aligned with Vision 2030.

Challenges and the road ahead

Despite strong momentum, challenges remain. Exploration and mine development are capital-intensive and technically complex. Converting early discoveries into producing mines will test the Kingdom’s ability to align financing, infrastructure and execution.

Infrastructure delivery — including power, transport and processing capacity — will be critical, as will environmental stewardship and community engagement. Maintaining international standards will influence both investor confidence and social licence to operate.

 

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In 2026, Saudi Arabia’s mining ambitions are no longer theoretical. The Kingdom has moved decisively into execution mode, expanding exploration, reforming regulation and attracting global partners. What happens next — discoveries, project approvals and investment commitments — will determine how quickly Saudi Arabia translates geological promise into global mining relevance.

Saudi Arabia is positioning itself as a new frontier in mining: ambitious, reform-driven and increasingly integrated with international capital and expertise. Over the coming year, the measure of success will not be the scale of resources beneath the ground, but how effectively that value is unlocked and embedded into the global economy.

Source: mining.com.au