Saudi Arabia to Invest $2.26 Billion in Gold and Phosphate Mining Projects in 2025

In a significant move to boost its mining sector, Saudi Arabia is preparing to invest nearly 8.5 billion Saudi riyals ($2.26 billion) in gold and phosphate production projects by 2025. This ambitious initiative is part of the Kingdom’s broader strategy under Vision 2030 to diversify its economy and reduce its reliance on oil revenues.

Saudi Arabia to Invest $2.26 Billion in Gold and Phosphate Mining Projects in 2025

The announcement, reported by Almal newspaper, highlights that the Saudi Arabian Mining Company (Ma’aden)—a state-owned enterprise—will spearhead these investments. The focus will be on developing strategic mineral resources, including gold and phosphate, both of which play a crucial role in various industries.

A Strategic Vision for Mining Growth

Saudi Arabia’s latest investment underscores its long-term commitment to transforming its mining sector into a key pillar of the national economy. Through Vision 2030, the government aims to unlock the untapped potential of its vast mineral reserves, positioning the Kingdom as a global mining hub.

According to industry sources, the country possesses enormous untapped mineral wealth, with the value of underground gold and other metals estimated to exceed $2.5 trillion. With rising global demand for precious and industrial metals, Saudi Arabia sees this as a golden opportunity to grow its economy and create jobs.

The Largest Gold Reserves in the Arab World

Saudi Arabia currently holds approximately 323 tonnes of gold reserves, making it the largest holder of gold in the Arab world and placing it 18th globally. These reserves are distributed across both local and international banks and are considered a strong asset in the Kingdom’s financial portfolio.

The new mining projects are expected to significantly boost these reserves by enhancing domestic production, thus reinforcing the country's position in the global gold market.

Rapid Sector Expansion Since 2019

Since 2019, Saudi Arabia’s Ministry of Industry and Mineral Resources has issued 477 exploration licenses, allowing both local and international companies to search for valuable minerals across the Kingdom. More licenses are expected to be granted in the coming years, indicating accelerated growth and increased investor interest in the sector.

These licenses cover a wide range of minerals beyond gold and phosphate, including copper, zinc, and rare earth elements—key components in renewable energy, electronics, and other high-tech applications.

Creating Opportunities and Driving Economic Diversification

The planned $2.26 billion investment is more than just a financial commitment. It represents a shift in national priorities. By channeling resources into mining, Saudi Arabia is creating thousands of new jobs, boosting local economies, and opening the door for private sector involvement.

This development also aligns with the Kingdom’s environmental and technological goals, as new mining operations will leverage modern, sustainable extraction methods and cutting-edge technologies to minimize their ecological footprint.

A Bright Future for Saudi Mining

As global demand for metals continues to rise—fueled by the growth of clean energy, electric vehicles, and digital technologies—Saudi Arabia is positioning itself to meet that demand. With rich underground resources, strong government backing, and significant financial investments, the future of the Kingdom’s mining industry looks exceptionally promising.

Through strategic initiatives like these, Saudi Arabia is not only unlocking the potential of its natural resources but also paving the way for long-term economic resilience and sustainability.