Saudi Arabia’s mining sector recorded continued growth in 2025. According to ocial figures, the number of valid mining licences increased to 2,925 from 2,401 in 2024, while cumulative mining investments reached SAR 189.4 billion. The sector contributed approximately SAR 138 billion to GDP, and the kingdom’s estimated mineral wealth stands at around SAR 9.4 trillion.

The sector maintained its momentum into 2026. The Ministry of Industry and Mineral Resources issued 80 new mining licences in March, including 49 exploration licences, 20 building materials quarry licences, eight mining exploitation and small-mine licences, two reconnaissance licences, and one surplus mineral ores licence.

The country is also taking a holistic approach to critical minerals and developing a supply chain strategy. At a recent event, Bandar Alkhorayef, minister of industry and mineral resources, highlighted the need for a comprehensive approach to critical minerals that encompasses exploration, processing, logistics, and end-use supply chains. He noted that mining investments are inherently long term and require coordination across multiple stages of project development to improve sustainability and reduce exposure to geopolitical and market-related risks.

Alkhorayef also stressed the importance of collaboration among governments, financial institutions, and private sector stakeholders to address growing global demand for critical minerals and mobilise capital for new projects. He pointed to the Future Minerals Forum as a platform that brings together governments, mining companies, investors, technology providers, and academic institutions to discuss supply chain resilience and sector development.

Saudi Arabia is developing a framework for critical minerals that covers geology, infrastructure, financing, technology, regulation, human capital, and sustainability. Mining remains a central component of the kingdom’s industrial development strategy, supported by its geographic location and energy resources, which can facilitate mineral processing and integration into global supply chains. 

ROUND 10 TAKES OFF

Building on that momentum, in June the ministry revealed the 24 local and international bidders, including companies and consortiums, that have qualified to participate in Round 10 of Saudi Arabia’s exploration licence competitions, marking the start of the bidding phase following the completion of technical and financial evaluations.

According to the ministry, the move forms part of ongoing eorts to advance mineral exploration and support the development of the kingdom’s mineral resource base. Participation in exploration licensing rounds has increased in recent years alongside regulatory reforms,expanded geological data availability, and the introduction of digital licensing mechanisms.

The mineralised belts included in this round covers approximately 13,000 square kilometres across the regions of Madinah, Makkah, Riyadh, Qassim, and Hail. The areas span new exploration sites linked to belts oered during Round 9, including the Nabithah/Ad Duwayhi (Dahlat Shabeb) Belt, the Sukhaybarat/Al-Safra Belt, and the Al-Nuqrah Belt.

The Nabithah/Ad Duwayhi Belt includes the Ad Duwayhi Mine, which produces around 180,000 ounces of gold annually. The Sukhaybarat/Al-Safra Belt is considered prospective for gold, copper, silver, zinc, and nickel and includes projects such as the Sukhaybarat and Bulghah mines. The Al-Nuqrah Belt is known for gold deposits as well as copperand zinc-rich volcanic massive sulphide mineralisation.

Of the 24 qualified bidders, 17 were previously pre-qualified under Round 9, while seven additional companies and consortiums completed the Round 10 pre-qualification process.

Saudi Arabia’s exploration licence competitions follow a three-stage process. The first involves pre-qualification, during which applicants are assessed based on their technical and financial capabilities. The second stage allows qualified bidders to access technical documentation and select sites through the ministry’s digital mining platform, Taadeen. Where multiple bidders select the same site, the process moves to the third stage, a public multi-round bidding phase, with awards determined through competitive exploration expenditure commitments and predefined evaluation criteria.

The next phase of Round 10 will allow qualified bidders to select available exploration sites through the Taadeen platform.

FRASER INSTITUTE SURVEY

Recent international assessments also indicate improving investor sentiment toward Saudi Arabia’s mining sector. The Canada-based Fraser Institute’s annual mining survey placed Saudi Arabia as the 10th most attractive mining destination.

The kingdom’s score in the institute’s Investment Attractiveness Index increased by more than 10 points between 2024 and 2025, while its ranking improved from 23rd among 82 jurisdictions to 10th among 68 jurisdictions. Policy perception rankings also improved significantly, rising from 20th to 4th over the same period.

Saudi Arabia is continuing eorts to expand its mining sector as part of its broader economic diversification strategy, with policymakers emphasising the importance of developing integrated mineral value chains and attracting long-term investment.