London: Saudi Arabia presented its strategic vision for transformation in the mining and minerals sector, along with its ambitious plans to strengthen its growing role as a global mining power, during its participation in the Financial Times Metals and Mining Summit 2025 held in London.
According to Saudi Press Agency, the summit brought together government leaders, company executives, and international experts to discuss the future of resource security, the sustainability of supply chains, and the mining sector's contribution to the global transition to clean energy.
Deputy Minister for Mining Development at the Ministry of Industry and Mineral Resources Eng. Turki Al-Babtain took part in a high-level ministerial session that discussed enhancing international cooperation to ensure the sustainability of mineral resources and develop value-added supply chains.
During the session, Al-Babtain emphasized that the Kingdom is confidently moving toward maximizing the potential of its mineral wealth, estimated at around SAR 9.4 trillion, to become a key driver of economic growth and job creation. He noted that transforming natural resources into sustainable assets begins with good governance, transparency, and effective regulation. He added that the mining sector has become a major pillar of national development, supported by a stable legislative environment, investment guarantees, advanced infrastructure, government incentives, and a firm commitment to sustainable development principles.
Al-Babtain explained that the Kingdom aims to double the mining sector's contribution to gross domestic product (GDP) to about SAR281.3 billion ($75 billion) by 2030. The goal is being driven by the Mining Investment Law, which has improved transparency in licensing and opened more than 600,000 square kilometers for exploration, while making 80 years of geological data available to local and international investors. He also highlighted the Exploration Enablement Program (EEP), which accelerates exploration efforts and mitigates investment risks.
Saudi Arabia's progress in the mining sector has received wide international recognition. The Kingdom ranked 23rd globally in the 2024 Investment Attractiveness Index issued by Canada's Fraser Institute. It also ranked first globally in political stability, fifth in socio-economic agreements, and seventh in environmental regulation.
Riyadh is preparing to host the fifth annual Future Minerals Forum from January 13 to 15 under the patronage of Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud. Organized by the Ministry of Industry and Mineral Resources, the conference will be held under the theme 'Dawn of a Global Cause.'