Saudi Arabia’s mining sector is undergoing a significant transformation and is gearing up to become one of the key pillars of economic diversification efforts outlined in Vision 2030. The latest report from the National Industrial and Mining Information Center reveals that Saudi Arabia issued 152 industrial licenses in January alone, bringing the total number of operating and under-construction factories in the Kingdom to 11,672.
These factories represent a combined investment of SAR1.539 trillion ($410.4 billion). With abundant mineral wealth estimated at SAR9.4 trillion ($2.5 trillion), Saudi Arabia sees a pivotal opportunity to expand non-oil revenue streams and bolster economic resilience alongside the oil and petrochemical industries. The center’s report reveals significant changes in new industrial investments in Saudi Arabia’s mining sector.
