In just over a decade, Saudi Arabia has transformed from a relatively unknown player in the global mining scene to one of the most attractive destinations for mining investment. The Kingdom’s rise from 104th to 23rd place in the Fraser Institute’s 2024 Mining Investment Attractiveness Index marks a turning point in its industrial history, surpassing established mining hubs in Asia and Latin America.

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From Modest Beginnings to Global Recognition

Back in 2013, Saudi Arabia’s mining sector faced limited global attention.

• Policy Perception Index: Ranked 82nd.
• Geological Potential Index: Ranked 58th.

Fast-forward to 2024, and the picture is dramatically different:

• Policy Perception has surged to 20th place, reflecting investor-friendly reforms and transparent governance.
• Geological Potential now stands at 24th, thanks to nationwide geological surveys, resource mapping, and strategic exploration projects.

This transformation has been fueled by competitive licensing rounds that drew top-tier international investors, as well as the government’s commitment to diversifying the economy under Vision 2030.

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Economic Growth Dimensions

The scale of Saudi Arabia’s mineral wealth is now clear:

• SAR 9.37 trillion (USD 2.5 trillion) in untapped mineral resources, including copper, gold, phosphates, and rare earth elements.
• Current GDP contribution of USD 17 billion, targeted to reach USD 75 billion by 2030.
• By mid-2025, the Kingdom had already attracted USD 32 billion in mining investments — one-third of its USD 100 billion goal.

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Building a World-Class Investment Environment

Saudi Arabia’s rise has been accelerated by a deliberate push to attract and protect investors:

• Among the fastest in the world for issuing mining licenses.
• Stable, transparent regulations with competitive tax frameworks.
• Modern infrastructure supporting efficient industrial supply chains.
• Political stability that reassures long-term investors.

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The Road Ahead

With strong momentum, Saudi Arabia is setting its sights on the next phase:

• Maximizing the value of its mineral resources through advanced processing and downstream industries.
• Localizing supply chains to create jobs and build resilience.
• Expanding global partnerships to secure critical minerals essential for the future of energy and high-tech manufacturing.

From a little-known contender to a trusted global hub for mining investment, Saudi Arabia’s journey is a story of vision, reform, and strategic ambition — and its next chapter is just beginning.