Prime Highlights:
- Saudi Arabia is finalizing the launch of a metals exchange to support its fast-growing mining sector and provide stability for investors.
- The exchange will offer financing tools, expert valuation, and a platform for global traders, strengthening the Kingdom’s role in the international mining market.
Key Facts:
- Saudi Arabia plans to attract $98 million in foreign investment for mineral exploration and has allocated $182 million in incentives through 2030.
- In 2025, licenses were granted for projects with total investments of nearly SR45 billion ($11.9 billion), showing strong sector growth.
Background:
Saudi Arabia is close to launching a metals exchange to boost its fast-growing mining sector, the Deputy Minister of Energy, Industry, and Mineral Resources, Khalid Al-Mudaifer, said.
Speaking to Asharq Bloomberg, Al-Mudaifer explained that the new exchange is designed to support the mining industry by providing financing tools, improving price stability, and creating a comprehensive system for trading, valuation, and expert participation from global commodity markets.
“The exchange provides the mining and minerals sector with crucial financing and a future vision for essential commodities. Price volatility has long been a challenge in this sector, and this platform addresses it directly,” Al-Mudaifer said.
Saudi Arabia, home to mineral wealth valued at $2.5 trillion, has ambitious goals for the mining sector. Saudi Arabia aims to attract $98 million in foreign investment for mineral exploration and has set aside about $182 million in incentives through 2030. In 2024, the country spent over $280 million on exploration, showing its focus on developing resources.
The metals exchange will not just be a trading platform; it will also have appraisal experts to support accurate valuation. It is expected to benefit global traders and investors, thanks to Saudi Arabia’s stability and growing role in the mining industry.
Al-Mudaifer added that in 2025, licenses were granted for projects with total investments of nearly SR45 billion ($11.9 billion). The Kingdom aims to rank among the top 10 phosphate-producing countries and the top 20 producers of copper and gold globally.
The announcement comes ahead of the Future Minerals Forum, scheduled in Riyadh from January 13 to 15. The forum, a government-led initiative, brings together industry leaders, policymakers, and stakeholders to advance responsible mining practices and strengthen global mineral supply chains.
“There are numerous deals and investment discussions that happen during the forum. Saudi Arabia benefits from being at the center of this momentum,” Al-Mudaifer added.
With the metals exchange, Saudi Arabia is aiming to become a key player in the global mining market, providing stability, investment opportunities, and a platform for growth.
