Saudi Mining Exploration Companies Increase to 134 in 2025

Saudi Arabia has doubled its mineral exploration investments as it intensifies efforts to unlock an estimated USD 1.3 trillion in untapped mineral resources across the Kingdom. According to Ministry of Industry and Mineral Resources, exploration spending rose from SAR 700 million in 2022 to SAR 1.3 billion in 2025.

The move is part of Saudi Arabia’s broader Vision 2030 strategy to diversify its economy and reduce dependence on oil. Despite being the largest country in the Middle East, only 20% of Saudi Arabia’s mineral-rich land has been explored to date. Authorities are now racing to attract global investors and develop the mining sector into a pillar of the national economy.

The Ministry has already issued 2,800 exploration licenses and continues to push for more public-private partnerships to modernise its geological surveys and infrastructure. By amplifying exploration activity, Saudi Arabia aims to become a global hub for metals such as gold, copper, phosphate and rare earth elements.