Saudi Arabia Enters Global Top 10 Mining Investment Destinations

Riydh, Saudi Arabia: Saudi Arabia has been ranked among the world’s top ten mining investment destinations in the Fraser Institute’s Annual Survey of Mining Companies 2025, marking a significant milestone in the Kingdom’s ongoing efforts to develop its mining sector as a key pillar of economic diversification under Vision 2030.

The Fraser Institute survey is widely regarded as one of the global mining industry’s most influential benchmarks, assessing jurisdictions based on their investment attractiveness, regulatory frameworks, and mineral potential.

According to the report, Saudi Arabia achieved a remarkable leap on the Investment Attractiveness Index, climbing 13 positions within a single year while improving its overall score by 14.3 percent. The Kingdom also became the only Asian jurisdiction ranked among the global top ten mining destinations in 2025.

A Decade of Transformation in the Mining Sector

The ranking reflects a decade-long transformation in Saudi Arabia’s mining industry. The Kingdom has advanced significantly from 104th place in 2013 to 23rd in 2024, before reaching the top ten globally in 2025, underscoring the scale of reforms implemented across the sector.

Saudi Arabia’s improved position is supported by strong performance across two key sub-indices in the Fraser Institute’s report.

In the Policy Perception Index, which evaluates regulatory transparency and governance, the Kingdom advanced from 20th place to 4th globally, achieving a score of 94.99.

Meanwhile, the Mineral Potential Index, which measures the geological potential for resource development, saw Saudi Arabia rise from 24th to 16th place, with a score of 73.33.

Together, these results highlight the combination of significant geological resources and a modernised regulatory framework that has strengthened the Kingdom’s investment competitiveness in the mining sector.

Saudi Arabia recorded exceptional performance across several detailed policy indicators within the survey.

The Kingdom ranked first globally in “Uncertainty Concerning the Administration & Regulations,” reflecting improved clarity in mining regulations and more efficient administrative processes.

This indicator recorded a 558 percent improvement, driven by the implementation of the Mining Investment Law, the establishment of ESNAD (Saudi Mining Services Company) to strengthen sector oversight, and the digitalisation of licensing processes through the Ta’adeen platform.

Saudi Arabia also ranked first globally in “Regulatory Duplication and Inconsistencies” and first in the “Taxation Regime”, demonstrating the effectiveness of reforms aimed at improving regulatory coordination and enhancing the financial competitiveness of mining investments.

In additional indicators, the Kingdom achieved second place globally in “Uncertainty Concerning Environmental Regulations” and third place in “Uncertainty Concerning Disputed Land Claims.”

These results highlight the strength and clarity of the Kingdom’s environmental regulatory systems and land governance frameworks, supported by coordination with the Ministry of Environment, Water and Agriculture and policies aimed at ensuring responsible community engagement around mining operations.

Infrastructure Investments Supporting Mining Growth

Saudi Arabia also recorded notable progress in the Infrastructure indicator, which measures factors such as access to transportation networks and energy supply.

The improvement reflects ongoing infrastructure development initiatives, including the Mining Infrastructure Enablement Initiative, launched during the Future Minerals Forum held in January.

Additional qualitative indicators also recorded strong gains. The Legal System criterion improved by 211 percent, while the Quality of Geological Database rose by 203 percent, supported by expanded geological survey data that has improved transparency and investment decision-making for international mining companies.

Commenting on the achievement, Vice Minister of Industry and Mineral Resources for Mining Affairs Eng. Khalid bin Saleh Al-Mudaifer stated that the Kingdom’s entry into the global top ten reflects the impact of the structural reforms introduced under Vision 2030.

He noted that the ranking demonstrates the maturity and resilience of Saudi Arabia’s investment environment as the Kingdom prepares to meet growing global demand for minerals.

The ministry plans to further strengthen the sector by refining legislative and regulatory frameworks, improving investor experience, and accelerating licensing processes.

Exploration Activity and Investment Surge

Saudi Arabia’s mining sector is already seeing tangible investment results following the regulatory reforms.

In 2025, the Kingdom issued 61 exploitation licenses for mine development projects with a combined investment value of $11.73 billion (SAR44 billion). This compares with 21 licenses issued in 2024, representing a 221 percent increase year-on-year.

Exploration activity has also grown rapidly. The number of active exploration companies expanded from six companies in 2020 to 226 in 2024, representing more than 38-fold growth.

Similarly, the number of active exploration licenses reached 1,018 by 2025, compared with 500 licenses in 2020, reflecting growth of approximately 104 percent.

Saudi Arabia’s Ministry of Industry and Mineral Resources continues to attract international investors through competitive exploration licensing rounds.

These initiatives have drawn strong interest from major global mining companies and investment groups, including Barrick Gold, Ivanhoe Electric, Shandong Gold, Hancock Prospecting, and Zijin Mining.

As part of the latest exploration programme, the ministry recently launched the 11th licensing round, offering exploration rights across eight mining sites located in the Riyadh, Hail, and Aseer regions.

The sites cover a total area of 1,878 square kilometres and include deposits of gold, silver, copper, zinc, and iron ore.

Supporting Early-Stage Exploration

To further strengthen the sector, the Kingdom has introduced the Exploration Enablement Program, designed to reduce financial risk for early-stage exploration companies.

Under the programme, Saudi Arabia has allocated $182.7 million (SAR685 million) for the 2024–2030 period to support exploration projects during their initial five years.

Participating companies are required to share geological data generated during exploration activities, helping accelerate knowledge exchange and improve investment decision-making across the sector.

The Fraser Institute survey evaluated 68 mining jurisdictions worldwide, drawing insights from 256 responses by senior executives representing global mining companies.

Saudi Arabia’s entry into the global top ten reflects the Kingdom’s continued progress in establishing mining as the third pillar of its industrial economy, strengthening its role as a reliable partner in securing future mineral supply chains while expanding opportunities for international investors.