Riyadh: Minister of Investment Khalid Al-Falih announced that the National Investment Strategy aims to increase capital in the mining sector from approximately SAR45 billion in 2024 to nearly SAR92 billion between 2025 and 2030. The strategy includes plans to double foreign direct investment in the sector and to establish an investment environment capable of delivering average internal rates of return ranging from 20% to 30%.
According to Saudi Press Agency, Al-Falih made these remarks during a dialogue session titled 'Time for Bold Action: Creating a Global Mineral Fund to Supercharge Investment,' which took place on the sidelines of the Future Minerals Forum 2026 in Riyadh. The session addressed challenges facing international investment in mining and explored methods to keep pace with the rapidly growing global demand for critical minerals.
The dialogue session featured notable participants such as Managing Partner and Deputy Group Chief Executive at Orion Resource Partners Michael Barton; Chief Strategy Officer of Energy Pathways at The Carlyle Group Jeff Currie; Founder and Chairman of Integra Capital Dr. Jos© Luis Manzano; Head of Global Affairs at Appian Advisory Dominic Raab; and President and Chief Executive Officer of Ivanhoe Electric Taylor Melvin.
Al-Falih emphasized the need for bold and coordinated action by governments, the private sector, and global financial institutions to overcome financing challenges and accelerate the development of mining projects across the value chain. He noted that the increasing global demand for strategic minerals signifies a long-term structural shift rather than a temporary market cycle.
He further mentioned that the Kingdom has implemented a comprehensive approach to tackle sector challenges, including increasing exploration spending fivefold between 2020 and 2024 and reducing project timelines to achieve production within eight to ten years. This strategy is supported by integrated infrastructure, such as roads, railways, ports, and logistics networks, along with globally competitive value chains in aluminum and phosphate.