Saudi Arabia Showcases Mining Ambitions at ‘Saudi Day’ During London Metal Exchange Week 2025

📷SPA

London, October 16 (Saudi Arabia Breaking News) – The Ministry of Industry and Mineral Resources (MIM) organized an event titled “Saudi Day at LME Week” as part of the London Metal Exchange (LME) Week 2025, highlighting the Kingdom’s growing role as a global mining hub and its efforts to attract international investments across the entire minerals value chain, in line with Saudi Vision 2030.

In his opening remarks, Vice Minister for Mining Affairs Eng. Khalid Al-Mudaifer reviewed the reforms implemented by the Kingdom to enhance the mining sector and underlined its untapped mineral wealth estimated at over SAR9.4 trillion (USD2.5 trillion). He reaffirmed Saudi Arabia’s commitment to developing strong global partnerships and fostering sustainable growth in mining and minerals.

Al-Mudaifer outlined key milestones, including updates to the legislative framework, the launch of the National Minerals Program, expansion of exploration activities, and enhanced private-sector participation. These initiatives are designed to attract qualitative investments and strengthen the Kingdom’s collaboration with international partners in building a strategic and resilient mining industry.

He noted that mining has become a core pillar of Saudi Arabia’s economic transformation, positioning the Kingdom as a preferred global partner for investors and companies pursuing responsible mineral development.

According to the ministry, the value of mineral resources has increased from SAR5 trillion to SAR9.4 trillion, with exploration companies rising from six in 2020 to 133 in 2023 and total exploration spending reaching SAR102 billion in 2024. Saudi Arabia ranked 23rd globally in the 2024 Investment Attractiveness Index by Canada’s Fraser Institute, placing first worldwide in political stability, fifth in socio-economic agreements, and seventh in environmental regulations.

The event included discussions with industry leaders such as Ma’aden CEO Bob Wilt, Vale CEO Gustavo Pimenta, Alcoa CEO William Oplinger, and LME CEO Matthew Chamberlain, who addressed themes of global demand, sustainability, and cross-border cooperation in minerals and metals.

A panel moderated by David Eades, former BBC news anchor, brought together figures including Shaun Usmar (Vale Base Metals), Rahim Bapoo (BMO), Richard Horrocks-Taylor (Standard Chartered), and Dr. Kwasi Ampofo (BloombergNEF). Talks focused on investment financing, geopolitical dynamics, and securing critical-mineral supply chains.

An accompanying exhibition showcased Saudi Arabia’s advanced infrastructure, AI-powered geophysical exploration, automation, energy efficiency, recycling, and green metals technologies, underscoring the Kingdom’s innovation and sustainability efforts.

The event concluded with a preview of the 5th Future Minerals Forum (FMF), set for January 13–15, 2026, in Riyadh under the theme “Minerals: Confronting Challenges for a New Era of Development.” The conference will gather global mining leaders from companies including BHP, Rio Tinto, Ivanhoe Mines, Zijin, Barrick Gold, and Ma’aden.

Saudi Arabia’s participation in LME Week 2025 reaffirms its rising influence in the global minerals economy and its commitment to international collaboration, innovation, and sustainable investment as demand for critical resources accelerates worldwide.