Saudi Arabia has rapidly strengthened its position in the global mining sector, rising from 104th in 2013 to 23rd in 2024 on the Fraser Institute’s Investment Attractiveness Index. This marks a significant achievement, surpassing established mining destinations in Asia and Latin America.
According to the Fraser Institute’s 2024 Annual Survey of Mining Companies, the Kingdom also advanced from 82nd to 20th in the Policy Perception Index, reflecting growing investor confidence in its stable regulatory framework. In the Best Practices Mineral Potential Index, Saudi Arabia jumped from 58th in 2013 to 24th in 2024, highlighting its vast untapped mineral wealth and the results of extensive geological surveys, discoveries, and competitive licensing rounds.
Vice Minister of Industry and Mineral Resources for Mining Affairs, Eng. Khalid Al-Mudaifer, credited the progress to “structural transformation and holistic efforts” under Vision 2030. He emphasized the sector’s role as a key driver of industrial and economic growth, supported by clear regulations, comprehensive geological data, competitive incentives, and advanced infrastructure.
The Fraser Institute noted broad regulatory reforms covering security of tenure, taxation, environmental legislation, infrastructure, and community engagement. For the first time, Saudi Arabia entered the index’s top quartile, with investors citing political stability and praising the Mining Exploration Enablement Program for reducing risks in early-stage projects.
Between 2013 and 2024, the Kingdom saw substantial improvements in several indicators: mining administration clarity (+305.8%), clarity of land use (+82.2%), labor regulations (+102.2%), and quality of geological databases (+81.8%).
These advancements have strengthened Saudi Arabia’s position as a world-class mining investment destination, fully aligned with Vision 2030’s goal of diversifying the economy and developing strategic sectors.
