Saudi Arabia’s mining sector has surged 81 places in the Fraser Institute’s Investment Attractiveness Index over the past decade, rising from 104th in 2013 to 23rd in 2024 — one of the steepest climbs recorded by the Canadian think tank.
The leap reflects sweeping regulatory reforms, streamlined licensing, and accelerated exploration activity, positioning the Kingdom ahead of several established mining destinations in Asia and Latin America. It also underscores the role of mining as a central pillar of Vision 2030, aimed at diversifying the economy beyond oil.
Vice Minister of Industry and Mineral Resources for Mining Affairs Khalid Al-Mudaifer said the progress demonstrates “the structural transformation of the Saudi mining sector in line with the targets of Vision 2030.” He stressed that mining is no longer a traditional industry but a driver of jobs, supply chain localization, and industrial growth.
Saudi Arabia also ranked 20th globally in the Policy Perception Index, up from 82nd in 2013, and 24th in the Best Practices Mineral Potential Index, rising from 58th. The government’s Mining Exploration Enablement Program has been highlighted as a key factor in reducing investor risk, with a record 22 exploration licenses issued in the first half of 2025 — a 144 percent increase year on year.
The Fraser Institute further noted significant improvements in the clarity of mining administration, labor regulations, geological databases, and land-use policies, which placed Saudi Arabia in the top quartile of the index for the first time.
For global players, Saudi Arabia’s mining boom is an open door to one of the world’s fastest-transforming resource markets. From rare earth exploration to downstream processing and infrastructure partnerships, the sector is redefining what’s possible under Vision 2030. Companies that want to move from observing to participating will need on-the-ground intelligence and precise entry strategies. Haris Consultancy provides tailored insights to help businesses read the terrain, align with policy frameworks, and unlock real opportunities in the Kingdom’s mining economy. Contact us today for a tailored consultation.
