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Mining market in Saudi Arabia

Industry highlights

Open on restricted basis

Export Development
Canada's position

0.75%

Global exploration share

71.6

World Bank Ease of Doing Business score 

Gold, copper and uranium

lead Saudi Arabia's mining sector

Can $487 million

Saudi Arabia ranks 36th overall in Canadian mining assets abroad

2

Canadian companies operating in Saudi Arabia

US $9.5 billion

National mining revenues

10.1%

5-year compound annual growth rate of industry

The Kingdom of Saudi Arabia holds a geographically strategic position in the Middle East, West Asia and Africa regions and continues to develop the mining sector through its National Industrial Development and Logistics Program (NIDLP). Saudi Arabia aims to become an international logistic hub and make mining a key driver for economic development and diversification. The Saudi investment law brings transparency in the regulations, increasing investor confidence and fueling growth in the sector as a result, and a revised law currently being drafted will provide equal treatment for foreign and local investors.

Key opportunities for Canadian mining suppliers

State-owned Ma'aden is among the fastest-growing mining companies in the world and the largest multi-commodity mining and metals company in the Middle East. Given Canada's position as a world leader in the mining industry, many Canadian companies are well placed to partner with local mining services companies to execute or supply multiple projects for Ma'aden, especially for gold, copper and uranium mining.

Mineral exploration

Since mining is a major driver of economic growth, there is a need to increase exploration activities and develop the necessary infrastructure to attract sustainable investment. Saudi Arabia has identified 431 potential sites for exploration and launched an accelerated, 600,000-km2 exploration program for mine development.

Other services required

Notable challenges for Canadian mining suppliers in Saudi Arabia

Saudi Arabia business landscape

Request a meeting

To learn more about the mining industry in Saudi Arabia, contact Maya El-Khoury (Maya.El-Khoury@international.gc.ca), Senior Trade Officer, at the Embassy of Canada to Saudi Arabia

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