Over SAR 90B mining projects under study: Al-Mudaifer

Khalid Al-Mudaifer, Vice-Minister for Mining Affairs of Saudi Arabia's Ministry of Industry and Mineral Resources, sad that many mining projects and opportunities with over SAR 90 billion investments are under feasibility study. The ministry is encouraging several partners and companies to invest in the Kingdom.

In a statement to Al-Arabiya, Al-Mudaifer said Saudi Arabia aims mainly to be a global hub for minerals and mining services. It has already achieved milestones, but its ambitions are bigger.

He pointed out that the main focus is on attracting investments in the mining industries sector, with efforts underway to support the completion of construction for several projects worth nearly SAR 28 billion. Additionally, there are investments worth SAR 47 billion with various companies in different fields. The ministry works with investors to finalize environmental permits, launch projects, and begin construction this year.

Al-Mudaifer added that the Kingdom aims to increase annual exploration spending in the mining sector from the current SAR 400 million to SAR 700 millio.

He also noted that the focus in 2025 will be on attracting investments in mining industries and exploration. He highlighted that last year, the ministry offered 10,000 square kilometers for exploration and aims to increase this to 50,000 square kilometers this year.