Sydney: The Ministry of Industry and Mineral Resources reaffirmed the Kingdom's position as a key player in the global mining and minerals landscape at the International Mining and Resources Conference and Expo (IMARC), held on October 21 - 23, 2025, in Sydney, Australia.
According to Saudi Press Agency, the minister highlighted that the Kingdom's mining transformation is anchored in stability, transparency, and investor trust - the foundations driving its emergence as a global hub for responsible mineral development. During his ministerial address, Vice Minister of Industry and Mineral Resources for Mining Affairs Khalid Al-Mudaifer showcased the Kingdom's remarkable mining transformation under Vision 2030. He outlined how Saudi Arabia's mining sector has evolved from a domestic industry into a globally integrated engine of sustainable growth, investment, and innovation.
'Since Vision 2030, Saudi Arabia has designated mining as the third pillar of its industrial economy, alongside energy and petrochemicals. This strategy has driven mining's GDP contribution to double, with SAR136 billion in 2024. It attracted more than SAR170 billion in mineral industry investments and a fivefold increase in exploration spending since 2020,' Al-Mudaifer said.
He noted that exploration spending now exceeds SAR1.05 billion in 2024, with the number of active exploration companies increasing from six in 2020 to 226 in 2024, reflecting a 38-fold growth driven by strong investor participation. The sector has also attracted strong interest from leading global mining companies and consortia, with foreign investors accounting for 66% of total license bidders compared to 34% of local investors across eight tender rounds.
The release added that the vice minister has invited mining leaders and international companies participating in the IMARC 2025 to attend the fifth edition of the Future Minerals Forum (FMF). This event will take place in Riyadh from January 13 to 15, 2026. He emphasized that the conference serves as a global platform for shaping the future of the minerals industry and promoting sustainable, responsible supply chains, driven by the Saudi mining sector's ambitious vision and its openness to the world.
On the sidelines of the conference, Al-Mudaifer held several meetings with counterparts and senior officials from the global mining sector. A key part of the Kingdom's participation at IMARC was the Saudi Showcase. Through this platform, the ministry showcased the Kingdom's thriving mining ecosystem and its promising investment opportunities across its upstream, midstream, and downstream sectors, emphasizing the potential within the vast, underexplored Arabian Nubian Shield.