The General Authority for Statistics revealed in its latest report that Saudi Arabia has achieved a significant leap forward in the mining sector, with the total number of discovered mineral sites reaching approximately 5,651 by 2024. This achievement is a crucial strategic step within the framework of the Kingdom's Vision 2030, which aims to diversify national income sources and establish mining as the third pillar of the Saudi economy, after oil and petrochemicals.
Detailed data revealed that non-metallic minerals accounted for the largest share of these discoveries at 54.1%, equivalent to 3,058 sites, including vital materials such as phosphate, limestone, and gypsum. This was followed by metallic minerals at 42.9% (2,423 sites), comprising precious and strategic minerals such as gold, copper, and zinc. Sites containing a mixture of metallic and non-metallic minerals constituted 3.0%, totaling 170 sites.
Historical background and strategic context
This surge in discoveries is based on the vast geological resources concentrated in the Arabian Shield, which covers a third of the Kingdom's area and is considered one of the world's richest mineral regions. Historically, the Arabian Peninsula has been a mining hub for millennia, but modern efforts under Vision 2030 have revitalized the sector through massive investments in geological survey programs and updated legislation to attract global investment. The Ministry of Industry and Mineral Resources has played a pivotal role in accelerating exploration and licensing, which has positively impacted the sector's performance.
Growing growth in licenses and its economic impact
The positive indicators were not limited to discoveries alone, but extended to the investment environment as well. The number of mining licenses issued rose from 1,985 in 2016 to 2,401 in 2024, registering a cumulative growth of 21%. Licenses for building materials quarries topped the list with 1,481, followed by exploration licenses with 642, indicating extensive exploration activity that promises further discoveries in the future. Experts estimate that the total value of the Kingdom's mineral wealth has risen to $2.5 trillion, opening up promising prospects for attracting foreign direct investment, creating thousands of jobs, and localizing downstream industries.
Regional and international importance
Internationally, these discoveries place the Kingdom at the heart of the global mineral supply map. With the global shift towards clean energy and digital transformation, demand is increasing significantly for minerals such as copper, lithium, and phosphates, which are abundant in Saudi Arabia. This not only enhances global energy security but also positions the Kingdom as a strategic partner for major industrialized nations. Furthermore, the surge in phosphate fertilizer exports, which reached 5.7 million tons in 2024, underscores the Kingdom's growing role in supporting global food security.
