Saudi Arabia has seen a dramatic rise in mining exploration activity, with the number of exploration companies growing from just 6 in 2019 to more than 134 today. According to Khalid Al-Mudaifer, Vice Minister of Industry and Mineral Resources for Mining Affairs, nearly 60% of exploration licenses have been granted to startups.
His remarks came during a panel discussion at the Egypt Mining Forum 2025, where he outlined the Kingdom’s strategic direction for the mining sector.
Al-Mudaifer emphasized the importance of building integrated regional ecosystems to support the mining industry’s success and competitiveness, while leveraging economic opportunities stretching from West Asia to East Africa. This, he noted, would also promote synergy between the mining and industrial sectors.
He revealed that Saudi Arabia’s exploration spending has tripled since 2020, reaching SAR228 per square kilometer in 2023, with an average annual growth rate of 32%.
Additionally, Al-Mudaifer highlighted the Kingdom’s launch of the world’s largest regional geological survey program, of which 80% has already been completed.
He called for the establishment of key platforms that unite efforts between governments, investors, service providers, and innovators to achieve shared goals in the sector.
