Saudi Arabia possesses abundant mineral resources such as gold, copper, zinc, phosphate, bauxite, and iron ore. With the largest oil reserves globally, the mining sector stands as a potential avenue for the Kingdom to capitalize on its wealth of natural resources.
The Saudi government actively promotes the growth of the mining sector, aiming to elevate its contribution to the country's GDP from 1% to 10% by 2030.
The government made substantial investments in the mining sector, allocating $22.5 billion between 2011 and 2020. These funds primarily supported the establishment of new mines, the expansion of existing ones, and the modernization of mining infrastructure and technologies.
