Mining sector: Rapid growth, strong global position under Vision 2030
The mining sector in Saudi Arabia is undergoing a fundamental transformation driven by Vision 2030. Thus, it became one of the Kingdom's most promising economic pillars.
This transformation has been reflected in the development of legislation, enhancement of the investment environment, and the acceleration of geological exploration activities, which have contributed to boosting the economic value of mineral resources and strengthening the Kingdom’s global standing in mining-related indicators.
The Kingdom has recorded significant progress in investment, policy, and geological survey indicators, alongside increasing mining exploration activity.
|
Global Progress in Mining Indicators |
|
|
Indicator |
Global Ranking |
|
Mining Investment Attractiveness Index |
10th |
|
Mining tax regime |
First |
|
Sub-index: Regulatory consistency and non-overlap |
First |
|
Environmental regulation stability and clarity |
First |
|
Environmental regulation stability and clarity |
Second |
|
Land access and community development |
Third |
|
Policy and regulatory framework |
Fourth |
The mining sector has gone through four development stages from 1930.
|
Stages of Mining Sector Development |
||
|
Stage |
Period |
Key Features |
|
First stage |
1930 - 1970 |
Limited exploration and establishment of regulatory bodies |
|
Second stage |
1970 -2000 |
Expansion of exploration and entry of global companies |
|
Third stage |
2000 - 2015 |
Infrastructure development and integration with industry |
|
Fourth stage |
2016-To Present |
Launch of Vision 2030 and comprehensive sector transformation |
The mining sector in Saudi Arabia has witnessed many initiatives and achievements since the launch of Vision 2030.
|
Key Mining Developments |
|
|
Year |
Key Initiatives and Achievements |
|
2016 |
Mineral resource valuation estimated at SAR 4.9 trln |
|
2017 |
Start of comprehensive mining strategy preparation |
|
2018 |
Comprehensive Mining Strategy launched |
|
2019 |
Ministry of Industry and Mineral Resources established Ta'adeen Platform launched |
|
2020 |
Mining Investment Law issued |
|
2021 |
Ta’adeen Platform and ESNAD launched
Geological Survey Program and National Geological Database launched |
|
2022 |
First public exploration licensing round
Future Minerals Forum launched
Exploration incentives worth SAR 682.5 bln offered
|
|
2023 |
Launch of Nuthree incubator
Establishment of Mining Fund and Manara Minerals
Exploration incentives worth SAR 682.5 bln |
|
2024 |
Mineral resource value increased to SAR 9.4 trln
Ta’adeen 2.0 and National Minerals Program launched
Amendment to Precious Metals and Gemstones Law
|
|
2025 |
Mining Innovation Studio launched 2025
Global Minerals Innovation Competition introduced
Launch of the Saudi Geological Survey Academy and its digital platform Licensing responsibilities streamlined |
The role of mining companies has grown in driving the sector’s expansion, taking advantage of the opportunities that have broadened investment prospects across various mining activities. This is reflected in the increase in mining licenses, particularly in specialized activities, rising from 150 licenses in 2021 to 272 in 2025.
|
Mining Exploitation Licenses |
|
|
Year |
Number of Licenses |
|
2021 |
170 |
|
2025 |
275 |
The number of mining exploration licenses increased from 499 in 2021 to 1,018 in 2025.
|
Mining Exploration Licenses |
|
|
Year |
Number of Licenses |
|
2021 |
499 |
|
2025 |
1018 |
Geological survey activities in the Kingdom have accelerated, increasing from 1.7% in 2021 to 65% in 2025.
|
Geological Survey Progress |
|
|
Year |
Growth Rate |
|
2021 |
1.7% |
|
2022 |
25% |
|
2023 |
+30% |
|
2024 |
51% |
|
2025 |
65% |
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