Saudi Gazette report

GENEVA — Saudi Arabia presented its vision for developing an integrated mining sector that links investment with innovation and industry while taking part in the 21st annual general meeting of the Intergovernmental Forum on Mining, Minerals, Metals and Sustainable Development (IGF), held in Geneva, Switzerland.

The Kingdom’s efforts aimed to maximize the sector’s role in economic diversification and strengthen the Kingdom’s position as a globally attractive destination for mining investment.

During the meeting, Deputy Minister of Mineral Resources Management at the Ministry of Industry and Mineral Resources Abdulrahman AlBelushi was elected vice-chair of the executive council for Central Asia, Eastern Europe, and the Middle East. The appointment reflects member countries’ confidence in Saudi Arabia’s pivotal role in promoting global mining governance and supporting sustainable development through regional and international cooperation.

AlBelushi emphasized that Saudi Vision 2030 is redefining the mining sector’s role, moving from a traditional extraction model to a more comprehensive approach focused on industrial diversification, job creation, and sustainable economic growth. He affirmed that mining has become a driver of industrial development and a contributor to the Kingdom’s transition toward clean energy.

Speaking on the exploration sector, the deputy minister highlighted that Saudi Arabia has implemented one of the largest geophysical and geochemical survey programs in the region, covering over 600,000 square kilometers of the Arabian Shield, 80 percent of which has been completed. He added that pertinent data has been made available to investors via the National Platform.

Additionally, the ministry offered investment opportunities covering 33,000 square kilometers of mineral belts through the Taadeen platform, as part of a plan to issue exploration licenses for over 50,000 square kilometers of mining sites during 2025. He also noted the sector’s remarkable progress in the Annual Survey of Mining Companies 2024 by Canada’s Fraser Institute, with Saudi Arabia climbing from 104th in 2013 to 23rd globally in the Investment Attractiveness Index. The achievement reflects the success of comprehensive reforms to enhance the investment environment and regulate the sector.

AlBelushi stressed the importance of cooperation between mineral-producing and consuming countries to strengthen the stability of global supply chains. He stated that Saudi Arabia leads international efforts in this area through the Future Minerals Forum and the international ministerial roundtable meeting of ministers concerned with mining affairs, which serves as a key voice for a major region including Africa, West and Central Asia, and Latin America.