Saudi Arabia plans to invest nearly 8.5 billion Saudi riyals ($2.26 billion) in gold and phosphate production projects in 2025, according to a report from Almal newspaper. The investments will be managed by Maaden, the state-owned mining company, and are part of the kingdom’s broader strategy to boost its mining sector as part of its Vision 2030 initiative.
Saudi Arabia currently holds nearly 323 tonnes of gold reserves, the largest in the Arab world and the 18th largest globally. The combined value of the nation’s gold reserves and untapped mineral resources is estimated to exceed $2.5 trillion.
Since 2019, the Ministry of Industry and Mineral Resources has issued 477 exploration licenses, with many more expected in the coming years. This rapid development signals significant growth for the country’s mining sector, fueled by the extensive investments planned for the future.