Riyadh, Saudi Arabia, August 11, 2025 — Saudi Arabia’s mining sector has achieved an unprecedented global milestone, jumping from 104th place in 2013 to 23rd in 2024 in the Fraser Institute’s Mining Investment Attractiveness Index, according to the Institute’s 2024 Annual Survey of Mining Companies. The Kingdom surpassed mining jurisdictions in prominent destinations across Asia and Latin America, further cementing its position as one of the world’s fastest-rising powers in the mining sector.

The Kingdom also made notable progress in the Policy Perception Index (PPI), rising from 82nd globally in 2013 to 20th in 2024, reflecting growing international confidence in its stable regulatory environment. The Mineral Potential Index (MPI) saw an unprecedented leap, moving from 58th in 2013 to 24th in 2024, underscoring the scale of the Kingdom’s vast and untapped mineral wealth—supported by ongoing geological surveys, new discoveries, and widely attended mining licensing rounds.

"This outstanding performance reflects the structural transformation and holistic efforts being driven across the mining and mineral sector under Vision 2030,” said His Excellency Eng. Khalid Al-Mudaifer, Vice Minister for Mining Affairs.

Over the past few years, Saudi Arabia has built a globally competitive investment environment, underpinned by clear regulations, accessible geological data—including one of the most extensive geological surveys of the Arabian Shield—competitive incentives, and world-class infrastructure. “Our focus remains on maximizing the economic value of our mineral resources, creating jobs for citizens, and localizing supply chains. Mining is no longer a traditional sector; rather, it has become a key driver of industrial and economic growth, and we are committed to building on this momentum to ensure sustainable success,” Al-Mudaifer added.

The Fraser Institute noted that the Kingdom’s success was driven by broad regulatory transformations covering security of tenure, taxation, environmental legislation, infrastructure, and community engagement. These efforts enabled Saudi Arabia to enter the top quartile of the index for the first time. The report also highlighted that investors expressed no concerns regarding political stability—one of the Kingdom’s key strengths—and praised the Mining Exploration Enablement Program as an effective tool for reducing investment risks and increasing confidence in early-stage projects.