Saudi Arabia strengthened its international presence in the mining sector this week through official participation in major economic and mining forums, with a clear focus on attracting quality investments, localizing advanced technologies for processing critical and rare minerals, and building global partnerships that support mineral value chains.
Three key themes stood out this week: deepening cooperation with Russia in exploration, processing, and mining-related manufacturing; building a strategic partnership with Kazakhstan in critical minerals and supply chains; and expanding investment opportunities inside the Kingdom through the qualification of 24 companies and consortiums to compete for exploration licenses across three mineralized belts.
Mining Saudi Arabia Announces an Upcoming Interview with Ahmed Alaqeel on the Future of Exploration and Development
Mining Saudi Arabia has announced an upcoming online interview in English with Ahmed Alaqeel, General Manager of Exploration Development at the Ministry of Industry and Mineral Resources, as part of its coverage of key developments shaping the Kingdom’s mining sector.
The session is expected to open the door for important questions on the future of Saudi Arabia’s mining sector, exploration opportunities, and the latest directions supporting the sector’s growth under Saudi Vision 2030.
Mining Saudi Arabia invites professionals, investors, and those interested in mining and exploration to submit their questions through the dedicated form. Selected questions may be discussed during the interview.
Submit your question here: https://lnkd.in/dFn9BsvN
Saudi Arabia and Russia: Investment Interest and Advanced Capabilities in Critical Minerals
Minister of Industry and Mineral Resources Bandar Alkhorayef said that Russian investors are among the most interested foreign players in Saudi Arabia’s mining sector, noting that several Russian companies have submitted investment proposals to tap into opportunities in the industry.
Speaking on the sidelines of the St. Petersburg International Economic Forum 2026, Alkhorayef explained that the Kingdom is seeking to attract Russian mining companies with extensive expertise, particularly in minerals such as titanium and gold.
He also highlighted Russia’s advanced capabilities in processing critical and rare minerals, technologies that Saudi Arabia is keen to localize and leverage as part of its broader strategy to develop the mining sector.
Russian companies have shown interest across the full mining value chain, from exploration and extraction to processing and downstream manufacturing industries.
Discussions were also held with the Russian Geological Survey as part of ongoing cooperation with the Saudi Geological Survey, to benefit from Russian expertise in geological exploration and mineral resource assessment.
The forum witnessed the signing of more than 14 agreements, most of them with private sector entities, in addition to government-level agreements, including a cooperation document between MODON and Russian organizations focused on supporting innovation, entrepreneurship, and the development of investment-friendly industrial environments.
Saudi Arabia’s participation in the forum coincided with the 100th anniversary of diplomatic relations between Saudi Arabia and Russia, as well as the Kingdom’s designation as Guest of Honor, reflecting the importance of bilateral economic ties and the growing scope of cooperation in industry and mining.
Kazakhstan: A Strategic Partnership in Critical Minerals and Value Chains
Kazakhstan emerged as one of the key pillars of Saudi Arabia’s mining activity this week, as Minister of Industry and Mineral Resources Bandar Alkhorayef visited the country to participate in Astana Mining & Metallurgy 2026.
During the visit, Saudi Arabia and Kazakhstan signed a memorandum of understanding to strengthen cooperation in the mining sector, exchange expertise and knowledge in mineral exploration and modern technologies, and encourage joint mining investments between the two countries.
Alkhorayef affirmed that Kazakhstan is a key and trusted partner in the critical minerals sector, which is essential for the energy transition, electricity, advanced manufacturing, and related industrial systems.
Official meetings addressed cooperation opportunities in exploration, extraction, mineral processing, and the development of high value-added production, supporting both countries’ efforts to build long-term partnerships in mining and critical minerals.
Alkhorayef also met with Kazakhstan’s Prime Minister Olzhas Bektenov, where both sides reaffirmed their readiness to increase bilateral cooperation in mining and the metallurgical industry. Mutual trade between the two countries reached $11.7 million in 2025, up 17%, while trade turnover during January to April 2026 grew 2.9 times, exceeding $6.1 million.
The visit also included a tour of the Tau-Ken Altyn gold refinery in Astana, where the minister reviewed technologies used in gold processing and refining, bullion production lines, and the refinery’s role in helping Kazakhstan maximize added value from its mineral resources.
The refinery is accredited by the London Bullion Market Association, confirming that its products comply with internationally recognized standards in the global gold market.
The visit reflects Saudi Arabia’s direction toward building partnerships with countries that have promising mining potential, while benefiting from international expertise in developing mineral value chains. This supports the objectives of Saudi Vision 2030 to position the Kingdom as a global hub for mining and minerals.
24 Companies and Consortiums Qualified to Compete for Exploration Licenses Across Three Mineralized Belts
The Ministry of Industry and Mineral Resources announced the qualification of 24 local and international companies and consortiums to compete for exploration licenses across three multi-mineral belts in the Kingdom.
The belts cover a combined area of approximately 13,000 square kilometers across five regions: Madinah, Makkah, Riyadh, Al Qassim, and Hail.
The licenses target a range of minerals, including gold, silver, copper, nickel, and zinc, as part of Saudi Arabia’s efforts to maximize the value of its mineral resources, estimated at around SAR 9.4 trillion.
The competition includes new exploration sites that represent extensions of previously offered mineralized belts, including the Nabitah-Duwaihi belt, which includes the Duwaihi mine producing approximately 180,000 ounces of gold annually, as well as the Sukhaybarat-Al Safra belt and the Al Nuqrah belt, known for gold deposits and volcanic massive sulfide mineralization rich in copper and zinc.
The list of qualified companies includes several prominent local and international names, including Maaden, PT ANTAM Tbk, Power Metallic Mines, Wildsky Resources, Vedanta, Danakali, Sun Peak Metals, Royal Road Arabia, and SGR Saudi Gold, alongside other companies and consortiums.
The competition will proceed through three stages: pre-qualification, access to bidding documents and site selection for qualified companies, and a public bidding stage based on exploration expenditure commitments and technical criteria.
This licensing round reflects the Kingdom’s continued efforts to enhance the attractiveness of its mining investment environment, increase exploration spending, and attract companies with strong technical and financial capabilities.
Peako Limited Expands Its Gold Footprint in Saudi Arabia
Australian mineral exploration company Peako Limited announced that it has entered into binding agreements to acquire a portfolio of gold projects in Saudi Arabia, covering 862 square kilometers across six projects in the Central Arabian Gold Region.
The portfolio includes drill-ready exploration targets with high-grade historical results, including gold intercepts at Sukhaybarat South, Jabal Jumaymah, and Wadi Jarir.
All projects are located near operating gold mines, including the Sukhaybarat and Bulghah mines, strengthening the portfolio’s geological and investment appeal.
The company supported the transaction with firm commitments for an A$5.17 million share placement to fund exploration and early-stage growth, with plans to begin drilling programs in the coming months after completion of the acquisition.
This move reflects growing interest from global exploration companies in Saudi Arabia’s gold opportunities, supported by an improving regulatory environment and investment incentives.
83 Zinc Sites Reflect Saudi Arabia’s Promising Mineral Potential
The Saudi Geological Survey stated that geological studies and surveys have contributed to the discovery of 83 zinc sites across eight regions in the Kingdom.
Riyadh topped the list with 42 sites, followed by Asir with 10, Tabuk with eight, Makkah with seven, Madinah with six, Hail with four, while Najran and Al Baha recorded three sites each.
The Saudi Geological Survey emphasized that zinc is a strategic resource for supporting advanced industries, given its role in a wide range of industrial applications, infrastructure, and mineral production chains.
Madinah also stands out as one of the Kingdom’s mineral-rich regions, with more than 42 million tons of copper, lead, and zinc ores, reinforcing its role in the future of Saudi Arabia’s mining sector.
It was a busy week for Saudi Arabia’s mining sector, marked by international partnerships, investor interest, expanded exploration opportunities, and a stronger presence in global mineral supply chains.
To follow the latest investment opportunities, exploration rounds, and mining sector developments in the Kingdom, follow Mining Saudi Arabia, your destination for tracking key opportunities in Saudi Arabia’s mining sector.
