Saudi Arabia’s Ministry of Industry and Mineral Resources, together with senior representatives from the Saudi Geological Survey (SGS) and ESNAD, participated in PERUMIN 37, one of the world’s premier biennial mining conventions.
The Saudi delegation emphasized the Kingdom’s growing role in shaping the future of global mining and promoting sustainable resource development. They also highlighted the upcoming Future Minerals Forum, which will take place in Riyadh in January.
Global Mining Collaboration
Deputy Minister of Mineral Resources Management Abdulrahman AlBelushi noted that Saudi Arabia and Peru share a strong commitment to utilizing mining as a driver of economic growth.
“Our participation at PERUMIN 37 reflects our belief in collaboration and knowledge-sharing to strengthen global mineral supply chains while supporting global electrification and digitalization goals,” AlBelushi said.
AlBelushi underscored that Saudi Arabia is positioning mining as the third pillar of its national industrial economy in line with Vision 2030. With an estimated $2.5 trillion in untapped mineral resources, the Kingdom is introducing investor-friendly policies, developing world-class infrastructure, and fostering strategic partnerships to unlock its full mineral potential and reinforce global supply chain resilience.
To boost investment and innovation, Saudi Arabia has recently taken several key steps:
- Transparent exploration licensing rounds based on merit.
- The Exploration Enablement Program, offering $182 million to de-risk early-stage exploration.
- Competitive incentives such as 100% foreign ownership and co-funding for capital expenditures through the Saudi Industrial Development Fund (SIDF).
- The launch of the National Geological Database (NGD), providing access to over 80 years of geological data, alongside one of the largest regional survey programs to enhance geological understanding of the Arabian Shield.
Strategic Partnerships with Latin America
The Saudi delegation also reinforced the Kingdom’s interest in strategic partnerships with Latin American nations, particularly Peru, one of the world’s leading producers of copper, silver, and zinc.
Areas of collaboration discussed included:
- Advanced exploration technologies and mining expertise.
- Sharing best practices in managing artisanal mining.
- Pursuing joint investments to strengthen global mineral supply chains.
During PERUMIN 37, the Saudi delegation held bilateral meetings with major Peruvian and international companies involved in exploration, mining, and related services. Moreover, these meetings explored potential collaborations and promoted investment opportunities within Saudi Arabia’s mining sector.
Additionally, the delegation hosted a dedicated country session titled “Unlocking Saudi Arabia’s Mineral Potential: The World’s Next Global Mining and Mineral Processing Hub,” showcasing the Kingdom’s vision, capabilities, and attractive investment environment.
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