By: Zawya

Saudi Arabia’s mining exports have jumped by about 80 percent  over the past year, driven by rising production of phosphate, iron, aluminum, copper and gold, as the Kingdom accelerates efforts to become a global hub for mineral resources, a senior Saudi official has said.

Vice Minister of Industry and Mineral Resources Khalid Al-Mudaifer said current and planned investments in the sector are valued at 180 billion Saudi riyals ($48 billion).

The push is part of the government’s broader strategy to expand exports and attract high-quality foreign capital into downstream processing, he said.

“The focus has not only been on meeting local demand but also on expanding exports and attracting high-quality investments that strengthen the Kingdom’s competitive edge,” Al-Mudaifer told Saudi Al-Ekhbariya TV.

He added that the effort covers “key resources such as phosphates, iron, aluminum, copper, and other downstream mining industries.”

Al-Mudaifer also pointed to “remarkable growth” in exploration licenses and gold mining projects, supported by Saudi Arabia’s rich geology, modern infrastructure, and what he described as “transparent taxation and competitive regulations.”

He said that Vision 2030 reforms have driven a “fundamental transformation” of the sector. Since 2013, Saudi Arabia has risen from the bottom of the Fraser Institute’s global mining index to an advanced position in 2024, he noted, citing the strength of the regulatory framework and the investment climate, he noted.

“Mining was one of these sectors that started from behind, but after the adoption of the mining strategy under Vision 2030, it witnessed a major transformation,” he said.

“As a result, it moved from the bottom of the list in 2013 to competing for top positions in 2024… from now and in the coming years, the results will be even better.”