Mining licences triple amid Riyadh’s exploration drive

The amount of mining licences issued by Saudi Arabia more than tripled year on year in 2025, as the kingdom accelerated the pace of unlocking an estimated $2.5 trillion in mineral wealth.

The number of mining and small-mine exploitation licences reached 61 last year, up from 19 in 2024, Jarrah Aljarrah, a spokesman for the industry and mineral resources ministry, said in a statement.

Total investments in the new licensed projects exceeded SAR44 billion ($11.7 billion), covering the extraction of mineral resources, including gold and phosphate. 

The total number of active mining exploitation licences in the kingdom reached 275 by the end of 2025, covering an area of 2,160 square kilometres.

Aljarrah said the ministry will enable mining investments and facilitate local and international investor participation to maximise sector returns.

The kingdom introduced a landmark law six years ago to attract investment to its mining industry as part of its Vision 2030 programme.

In January, Riyadh awarded new mining exploration contracts to 24 companies within the ninth and largest-ever licensing round for prospectors.

The winning entities were awarded 172 mining sites, including 76 sites that advanced to a multi-round public auction.

Licensing continues through the 10th round, covering 13,000 sq km across Medina, Mecca, Riyadh, Qassim and Hail in the northwest. 

The Saudi government has increased spending on mineral exploration fivefold, from $28 per sq km in 2020 to $144 in 2024, according to vice minister for mining Khalid Almudaifer.

In January, Ma’aden CEO Bob Wilt told the Future Minerals Forum in Riyadh that it plans to invest $110 billion over the next decade, describing it as “the largest capital programme in the history of mining”.

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