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Saudi Arabia has officially been ranked among the top ten global mining investment destinations in the 2025 Annual Survey of Mining Companies conducted by the Fraser Institute. The survey is widely regarded as one of the most respected global benchmarks for evaluating mining investment environments and is closely followed by international investors and mining companies.
According to the report, the Kingdom achieved a major leap in the Investment Attractiveness Index, climbing 13 positions within a single year and improving its score by 14.3%. This achievement makes Saudi Arabia the only Asian jurisdiction to rank among the global top ten mining investment destinations in 2025.
A Decade of Transformation in Saudi Arabia’s Mining Sector
Saudi Arabia’s mining sector has experienced remarkable progress over the past decade. The country moved from 104th place in 2013 to 23rd in 2024, and now into the global top ten in 2025.
This transformation reflects strong reforms driven by Saudi Vision 2030, which aims to diversify the economy and position mining as the third pillar of the Kingdom’s industrial base, alongside oil and petrochemicals.
Strong Policy and Mineral Potential Rankings
Saudi Arabia’s improved ranking was supported by strong results in two major sub-indices:
Policy Perception Index: Ranked 4th globally, scoring 94.99
Mineral Potential Index: Ranked 16th globally, scoring 73.33
These results highlight the Kingdom’s combination of strong geological resources and a modern regulatory framework designed to attract international investors.
Notably, Saudi Arabia ranked first globally in three critical policy areas, including:
Clarity of administration and mining regulations
Regulatory consistency across government entities
Taxation regime for mining projects
These achievements were largely driven by reforms such as the Mining Investment Law, the establishment of ESNAD to improve sector oversight, and the launch of the Ta’adeen digital mining platform to streamline licensing processes.
Rapid Growth in Mining Investments
Saudi Arabia’s regulatory improvements are already translating into real investment growth.
In 2025, the Kingdom issued 61 exploitation licenses for mine development valued at $11.73 billion (SAR 44 billion), compared with 21 licenses issued in 2024, representing an increase of 221%.
Exploration activity has also surged:
Exploration companies increased from 6 in 2020 to 226 in 2024
Active exploration licenses reached 1,018 by 2025, compared with 500 in 2020
Major global mining companies including Barrick Gold, Ivanhoe Electric, Shandong Gold, Hancock Prospecting, and Zijin Mining have already shown strong interest in Saudi exploration licensing rounds.
Government Initiatives Supporting Mining Growth
The Ministry of Industry and Mineral Resources continues to strengthen the sector through initiatives such as the Exploration Enablement Program, which allocates over $182.67 million (SAR 685 million) for 2024–2030 to support early-stage exploration projects.
Additionally, the ministry recently launched the 11th exploration licensing round, covering eight mining sites across Riyadh, Hail, and Aseer regions, targeting minerals including gold, silver, copper, zinc, and iron ore.
How J K Supports Mining Investors
As Saudi Arabia becomes a top global destination for mining investment, international companies entering the market must navigate licensing, regulatory compliance, and corporate structuring requirements.
