Saudi Arabia’s mining industry has made a record-breaking leap on the global stage, climbing from 104th place in 2013 to 23rd in 2024 in the Fraser Institute’s Mining Investment Attractiveness Index. This historic rise — the largest in the index’s history — places the Kingdom ahead of established mining hubs in Asia and Latin America, confirming its status as one of the fastest-emerging players in the sector.
The Kingdom’s performance in the Policy Perception Index (PPI) has been equally impressive, advancing from 82nd in 2013 to 20th in 2024. This reflects the strong investor confidence in Saudi Arabia’s stable and transparent regulatory framework. Meanwhile, the Mineral Potential Index (MPI) recorded a major jump from 58th to 24th, highlighting the country’s vast untapped mineral reserves — supported by comprehensive geological surveys, fresh discoveries, and high-profile mining licensing rounds.
“This remarkable progress is the result of structural reforms and integrated development efforts across the mining and minerals sector under Vision 2030,” said His Excellency Eng. Khalid Al-Mudaifer, Vice Minister for Mining Affairs.
A World-Class Investment Environment
In recent years, Saudi Arabia has created one of the world’s most competitive mining investment climates. Key pillars include transparent regulations, open access to geological data — including one of the largest surveys ever undertaken of the Arabian Shield — attractive investment incentives, and world-class infrastructure.
“Our priority is to maximise the economic return of our mineral resources, create jobs for our citizens, and localise supply chains,” Al-Mudaifer added. “Mining is no longer a traditional sector — it is now a driving force for industrial and economic growth, and we are determined to sustain this momentum for long-term success.”
Reforms Driving Investor Confidence
The Fraser Institute credited Saudi Arabia’s surge to broad-based regulatory reforms that strengthened security of tenure, improved taxation clarity, enhanced environmental legislation, expanded infrastructure, and deepened community engagement. For the first time, the Kingdom ranked in the top quartile of the index, with investors noting zero concerns over political stability — one of Saudi Arabia’s most significant advantages.
The report also praised the Mining Exploration Enablement Program, which has effectively reduced investment risks and built confidence in early-stage projects.
Key Performance Gains (2013–2024):
- +305.8% in mining administration clarity and effectiveness (17% to 69%) — ranked 11th globally
- +82.2% in clarity of land use for mining (45% to 82%) — ranked 7th globally
- +102.2% in labour regulations (45% to 91%)
- +81.8% in geological database quality (33% to 60%)
Global Recognition
The Fraser Institute’s Annual Survey of Mining Companies is one of the most respected benchmarks for assessing mining investment environments, used by investors, governments, and financial institutions worldwide. Saudi Arabia’s entry into the global top tier signals not only the success of its reforms but also its growing role in supplying the world with responsibly sourced minerals — a key pillar of Vision 2030’s economic diversification agenda.
