RIYADH, Saudi Arabia, Aug. 14, 2025 /PRNewswire/ -- Saudi Arabia's mining sector has achieved an unprecedented global milestone, jumping from 104th place in 2013 to 23rd in 2024 in the Fraser Institute's Mining Investment Attractiveness Index, according to the Institute's 2024 Annual Survey of Mining Companies. The Kingdom surpassed mining jurisdictions in prominent destinations across Asia and Latin America.
The Kingdom also made notable progress in the Policy Perception Index (PPI), rising from 82nd globally in 2013 to 20th in 2024, reflecting growing international confidence in its stable regulatory environment.
The Mineral Potential Index (MPI) also saw an unprecedented leap, moving from 58th in 2013 to 24th in 2024, highlighting the scale of the Kingdom's vast and untapped mineral wealth-supported by ongoing geological surveys, new discoveries, and widely attended mining licensing rounds.
"This outstanding performance reflects the structural transformation and holistic efforts being driven across the mining and mineral sector under Vision 2030," said His Excellency Eng. Khalid Al-Mudaifer, Vice Minister for Mining Affairs.
"Our focus remains on maximizing the economic value of our mineral resources, creating jobs for citizens, and localizing supply chains. Mining is no longer a traditional sector; rather, it has become a key driver of industrial and economic growth, and we are committed to building on this momentum to ensure sustainable success," Al-Mudaifer added.
The noted that the Kingdom's success was driven by broad regulatory transformations covering security of tenure, taxation, environmental legislation, infrastructure, and community engagement. These efforts enabled Saudi Arabia to enter the top quartile of the index for the first time.
According to the Fraser Institute report, the Kingdom achieved exceptional improvements in key indicators between 2013 and 2024, including:
- 305.8% improvement in the clarity and effectiveness of mining administration, from 17% in 2013 to 69% in 2024, ranking 11th globally.
- 82.2% improvement in clarity of land use for mining activities, from 45% in 2013 to 82% in 2024, ranking 7th globally.
- 102.2% improvement in labor regulations, from 45% in 2013 to 91% in 2024.
- 81.8% improvement in the quality of geological databases, from 33% in 2013 to 60% in 2024.
The report praised the Kingdom's stable regulatory environment and ambitious reforms, which have strengthened international investor confidence and solidified Saudi Arabia's status as a world-class mining investment destination-fully aligned with Vision 2030's goal of diversifying the economy and developing strategic sectors.
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