Skip to main content

Saudi Arabia increases number of mineral production factories

The Saudi government is seeking more investment for the mining of minerals in the country as part of its economic diversification plans.
Saudi aluminum

Saudi Arabia is continuing its efforts to boost its production of minerals. 

The official Saudi Press Agency reported today that more 1,290 factories are now producing mineral products in Saudi industrial cities, citing the Saudi Authority for Industrial Cities and Technology Zones, aka Modon. Increased domestic and international investment helped increase the number of mineral factories, according to Modon. 

Saudi Arabia boasts the largest mineral reserves in the Middle East. The kingdom is particularly rich in gold, silver, lead, and tin, among others, according to the Riyadh-based National Industrial Development Center. 

The production of minerals is a major part of Saudi Arabia’s Vision 2030, which is an endeavor to diversify the Gulf state’s economy away from dependence on oil. 

To this end, the Saudi Ministry of Industry and Mineral Resources announced today the start of licensing bids for mineral exploration in the recently-discovered Khnaiguiyah deposits in central Saudi Arabia, Yahoo! Finance reported.

Saudi Arabia plans to auction at least three mining licenses in 2022, including for the deposits in Khnaiguiyah. These deposits include an estimated 26 tons of copper and zinc, Saudi mining minister Bandar Al-khorayef told Reuters yesterday. 

Saudi Arabia is seeking $170 billion in mining investment by 2030, according to the financial news site Bloomberg. 

Join hundreds of Middle East professionals with Al-Monitor PRO.

Business and policy professionals use PRO to monitor the regional economy and improve their reports, memos and presentations. Try it for free and cancel anytime.

Free

The Middle East's Best Newsletters

Join over 50,000 readers who access our journalists dedicated newsletters, covering the top political, security, business and tech issues across the region each week.
Delivered straight to your inbox.

Free

What's included:
Our Expertise

Free newsletters available:

  • The Takeaway & Week in Review
  • Middle East Minute (AM)
  • Daily Briefing (PM)
  • Business & Tech Briefing
  • Security Briefing
  • Gulf Briefing
  • Israel Briefing
  • Palestine Briefing
  • Turkey Briefing
  • Iraq Briefing
Expert

Premium Membership

Join the Middle East's most notable experts for premium memos, trend reports, live video Q&A, and intimate in-person events, each detailing exclusive insights on business and geopolitical trends shaping the region.

$25.00 / month
billed annually

Become Member Start with 1-week free trial

We also offer team plans. Please send an email to pro.support@al-monitor.com and we'll onboard your team.

What's included:
Our Expertise AI-driven

Memos - premium analytical writing: actionable insights on markets and geopolitics.

Live Video Q&A - Hear from our top journalists and regional experts.

Special Events - Intimate in-person events with business & political VIPs.

Trend Reports - Deep dive analysis on market updates.

All premium Industry Newsletters - Monitor the Middle East's most important industries. Prioritize your target industries for weekly review:

  • Capital Markets & Private Equity
  • Venture Capital & Startups
  • Green Energy
  • Supply Chain
  • Sustainable Development
  • Leading Edge Technology
  • Oil & Gas
  • Real Estate & Construction
  • Banking

Start your PRO membership today.

Join the Middle East's top business and policy professionals to access exclusive PRO insights today.

Join Al-Monitor PRO Start with 1-week free trial