RIYADH: Saudi Arabia has positioned itself as a leading force in the global mining industry, using its platform at an international conference to detail a period of transformation driven by Vision 2030.
In a ministerial address during the International Mining and Resources Conference in Australia, Khalid Al-Mudaifer, the Kingdom‘s vice minister of industry and mineral resources for mining affairs, outlined how the sector has evolved from a domestic industry into a major international hub for investment and innovation.
He emphasized that this transformation is built on a foundation of stability, transparency, and investor trust, according to a press release.
“Since Vision 2030, Saudi Arabia has designated mining as the third pillar of its industrial economy,” Al-Mudaifer stated. “This strategy has driven mining’s gross domestic product contribution to double, reaching SR136 billion ($36.27 billion) in 2024.”
The sector has attracted more than SR170 billion in investments, while exploration spending has increased fivefold since 2020, exceeding SR1.05 billion in 2024 alone, the vice minister said.
