Mining

The U.S.-Saudi Business Council has been instrumental in connecting U.S. companies and products with the rapidly growing Saudi mining sector. The Council has organized annual delegations of U.S. firms to participate in the Future Minerals Forum and meet with key decision makers at USSBC partners like the Ministry of Industry and Mineral Resources (MIMR), Saudi Geological Survey (SGS), and mining leader Ma’aden, which is represented on the Council’s Board. These delegations enable the creation of vital business partnerships and technology transfers to support the sector’s development and generate jobs, infrastructure upgrades, and manufacturing growth required to meet Vision 2030’s goals to transform Saudi Arabia into a global mining hub.

“We were delighted to participate in the 3rd annual Future Minerals Forum, and we appreciate the professional support the Council provided to the members of the U. S. delegation.”

“I joined the U.S.-Saudi Business Council delegation to the Future Minerals Forum 2024 in Riyadh as this was my first trip to the Kingdom. The U.S.-Saudi Business Council and especially Ana Carmen Neboisa did an amazing job setting up meetings with multiple government ministries and a number of local companies. They understood our needs and worked incredibly hard to get the right meetings. Highly recommend you leverage their expertise.”

“My experience with the U.S.-Saudi Business Council was exceptional. Ana and her team were professionals with a great network, both in the government and the private sector. The team went out of their way to explore opportunities to introduce us to high-level potential partners and clients. Thanks to them, we managed to increase our network and engage with potential clients immediately, an achievement that would usually take us several months in Saudi Arabia. Keep up the great work!”

This has been a rewarding experience, and I am grateful to the Council for its help and support. I especially appreciate the opportunity to meet with key executives and relevant officials within the market, which is otherwise nearly impossible to do.

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Overview

Saudi Arabia is heavily investing in boosting its domestic mining capacity, which will play a key role in supplying the raw materials and resources needed for meeting Vision 2030’s economic growth and diversification goals. Mining leaders like government-owned Ma’aden and the MIMR play an essential part in enabling domestic manufacturing sectors to significantly enhance their competitiveness by improving local access to critical minerals and metals. Events like the Future Minerals Forum, already one of the largest mining trade shows in the world, also facilitate global collaboration and integration for the sector’s ongoing development.

Government and private sector mining investments drive major infrastructure upgrades under the guidelines set by the National Industrial Development and Logistics Program (NIDLP) under Vision 2030. Expanded transportation networks are being developed to support mining operations and enable mineral exports. Such strategic infrastructure modernization simultaneously supports growth across other key sectors of the Saudi economy. Mining activities are also attracting downstream investments in utilities, logistics, construction, and industrial services, enabling cross-sector job creation and cluster-based development.

Saudi Arabia’s goals for the sector include a $75 billion contribution to national GDP and a $7 billion reduction in annual mineral imports by 2035 (compared to 2023), reflecting the sector’s primary goal of boosting domestic capacity. The country holds an estimated $1.3 trillion in potential mineral resources, including everything from basic resources like iron, copper, and bauxite to rare earth minerals used in advanced manufacturing and energy storage systems. The MIMR and other sector leaders are actively looking for partnerships with U.S. companies involved in mining materials, drilling equipment, workforce safety/operations, exploration, and cross-sector applications like AI, robotics, unmanned systems, industrial systems, and more.