Mining in Saudi Arabia: A Strategic Pillar of Vision 2030 and Global Investment Opportunity
Mining in Saudi Arabia is rapidly emerging as a cornerstone of the Kingdom’s ambitious Vision 2030 strategy, which aims to diversify the economy beyond oil.
Backed by a modern regulatory framework, robust government support, and over US$2.5 trillion in untapped mineral resources, the country is positioning itself as a global leader in the mining and minerals sector.
Government Support and Legal Frameworks Driving Mining Growth
To stimulate local and foreign investment in mining, Saudi Arabia introduced the Mining Investment Law (Cabinet Decision No. 634/1441) in 2020. This law provides a transparent legal framework and substantial financial incentives including:
Up to SAR 7 million (US$1.85 million) per exploration license (first five licenses)
75% co-funding of capital expenditures for advanced exploration
100% foreign ownership of mining companies
Access to long-term project financing via the Saudi Industrial Development Fund (SIDF)
These reforms are overseen by the Ministry of Industry and Mineral Resources (MIMR), established in 2019, and supported by the Ministry of Investment (MISA).
Strategic Licensing and Digital Platforms
Saudi Arabia’s mining sector is increasingly digitized, with the Ta’adeen platform enabling online bidding for mining licenses. Investors must meet stringent eligibility criteria, including:
Proven technical and financial capability
A clean legal and regulatory record
Comprehensive plans addressing technical, commercial, environmental, and social impact
Winning proposals are selected based on transparency, feasibility, and alignment with Vision 2030 objectives.
Classification of Minerals Under Saudi Mining Law
The Mining Investment Law classifies mineral resources into three categories:
Class A: Metallic minerals and precious stones (e.g., gold, copper)
Class B: Industrial minerals (e.g., phosphate)
Class C: Construction materials (e.g., limestone, sand)
Geological Potential: The Arabian Shield
The Arabian Shield, located in western Saudi Arabia, is rich in gold, copper, and other strategic minerals, making it a prime exploration area. Saudi Arabia is actively opening over 50,000 km² of prospective mining zones for exploration licensing in 2025, unlocking vast mineral wealth and driving greenfield development.
Key Players and International Partnerships
The Saudi Arabian Mining Company (Ma’aden), established in 1997, leads the Kingdom’s mining sector. Now among the world’s top 10 mining firms, Ma’aden has a market capitalization of approximately US$49.3 billion and collaborates with international mining giants such as Barrick Gold, Vale, and Ivanhoe Electric.
The Mining Exploration Enablement Program
Launched in 2024, the Mining Exploration Enablement Program offers up to SAR 7.5 million per project to support early-stage exploration companies. This initiative reduces risk and accelerates exploration in alignment with Saudi Arabia’s sustainability and economic diversification goals.
Why Invest in Saudi Arabia’s Mining Sector?
Saudi Arabia offers a globally competitive mining environment, combining:
Vast, unexplored mineral reserves
A pro-mining legal and regulatory framework
Financial incentives and streamlined digital processes
Sustainability-focused policies and community engagement
Mining investors gain not only access to a high-potential market but also contribute to broader goals such as job creation, local development, and the global energy transition.
Saudi Arabia as a Global Mining Hub
With strong government backing, investor-friendly policies, and vast natural resources, mining in Saudi Arabia represents a compelling opportunity for international and domestic stakeholders. As the Kingdom continues to transform its mining sector under Vision 2030, early investors stand to benefit from access to critical minerals, world-class infrastructure, and long-term growth prospects in one of the world’s most promising mining frontiers.
Have questions about investing in Saudi Arabia’s mining sector?
contact us on: info@veritasksa.law