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A major Saudi mining sector push faces uncertainties

Tuesday, February 14, 2023


The announcement is part of the kingdom’s strategy to develop mining -- at home as well as abroad -- as a pillar of its economy and to attract foreign investment. Saudi Arabia also wants to position itself as a major player in the supply of critical minerals for the transition to renewable energy use.


  • Saudi Arabia could become a supplier of material required to produce batteries for electric vehicles.
  • The mining plans will face NGO-led international scrutiny of their environmental, social and governance standards.
  • Riyadh will take small steps towards liberalisation to attract foreign expatriates and improve its global image.
  • Progress in the mining sector would help towards the ambitious targets set out in Saudi Arabia's Vision 2030 socio-economic plan.

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