Al-Jadaan: Saudi Arabia is a global platform for the mining and investment sector
Saudi Finance Minister Mohammed Al-Jadaan affirmed that the Kingdom of Saudi Arabia is no longer content with its position as a major player in traditional energy markets, but has now positioned itself as a key platform and global center of gravity in the mining sector, stressing that this vital sector requires a reliable and predictable investment environment to ensure the flow of capital.
This came during his participation in the sessions of the International Mining Conference held in Riyadh, where Al-Jadaan explained that the mining sector, by its very nature, relies on long-term investments, making it highly sensitive to factors of uncertainty. He pointed out that the essential elements for the success of this sector lie in legislative and economic stability, an environment that the Kingdom strives to provide despite current global challenges, thus creating tremendous opportunities for countries and investors who can accurately assess the future landscape.
Global economic challenges and their impact
The Minister of Finance reviewed the global economic landscape, noting the presence of rapid and dynamic changes and structural challenges, including sluggish and uneven global growth, persistently high interest rates compared to previous years, and continued uncertainty stemming from geopolitical tensions in several regions worldwide. He emphasized that these factors, combined, directly impact investment decisions in major mining projects.
Metals as a strategic security element
In discussing the strategic importance of the sector, Al-Jadaan explained: “Minerals are now viewed by many countries as a strategic security and national security element, not just commercial commodities. This shift in concept opens the door to broad and deep partnerships, whether with resource-hosting countries or third parties, but it requires extreme discipline in selecting partner countries and targeted minerals.”.
National context: Mining is a pillar of Vision 2030
Al-Jadaan's statements align with the objectives of Saudi Vision 2030, which has established the mining sector as the third pillar of national industry, alongside oil, gas, and petrochemicals. The Kingdom is working to develop its mineral wealth, estimated at approximately 5 trillion riyals (US$1.3 trillion), which includes vast reserves of phosphate, gold, copper, and rare earth minerals—key components of modern industries and the transition to clean energy.
Saudi Arabia as a global platform
Al-Jadaan concluded his remarks by emphasizing the Kingdom's pivotal role, saying: "Saudi Arabia is positioning itself not only as a player, but also as a key platform for the global mining sector, with a significant mobilization of capital in this field. From a financial perspective, it is not just about extracting minerals, but about achieving long-term prosperity for countries, so that there are rewarding and sustainable returns for both investors and countries." He pointed out that having a stable environment and clear policies across different political cycles is the key to making countries more capable of attracting quality investments.
