Prime Highlights:
Saudi Arabia to offer 5,000 sq. km of mineral exploration sites in 2025.
Mining sector valued at $2.5 trillion, aiming to become the third pillar of the Kingdom’s industrial economy.
New exploration opportunities are part of Saudi Vision 2030 and growing mining investment.
Key Background:
Saudi Arabia is set to offer new mineral exploration opportunities across 5,000 square kilometers in 2025, as part of its ongoing expansion of the mining sector, which is currently the fastest-growing in the world. This announcement was made by Saudi Arabia’s Minister of Industry and Mineral Resources, Bandar Alkhorayef, during the Future Minerals Forum (FMF) held in Riyadh on January 15, 2025.
Alkhorayef highlighted the immense potential of the Kingdom’s mining industry, estimating its mineral wealth at a staggering $2.5 trillion. The allocation of 5,000 square kilometers for new exploration projects is part of Saudi Arabia’s broader strategy to position mining as the third pillar of the nation’s industrial economy, in line with Vision 2030.
Earlier this month, Saudi Arabia took further steps to enhance its mining sector by designating five new sites for the establishment of mining complexes in the Makkah and Asir regions. This initiative aims to attract high-quality investments, increase transparency, and support local communities. Alkhorayef emphasized that the Kingdom’s focus on regulatory frameworks, innovation, and infrastructure development is driving this rapid growth, making Saudi Arabia an increasingly attractive destination for global mining investments.
The Saudi government’s exploration incentives program, launched in 2024, has already shown promising results, with six companies receiving funding to kick-start their operations. Additionally, the Kingdom is investing in the Mining Innovation Studio, an initiative designed to transform Riyadh into a global hub for mining technology and innovation, with the aim of positioning the city as the “Silicon Valley of mining.”
The FMF, which Alkhorayef described as crucial for the mining sector’s growth, has witnessed significant expansion, with attendance growing from 3,500 in 2022 to over 20,000 in 2025. The event is now poised to become the leading global platform for the mining industry, addressing critical issues such as resource depletion, sustainability, and the global energy transition. The 2025 forum also features a regional leadership roundtable and several high-level debates, highlighting the increasing influence of the FMF in shaping the future of the global mining industry.