A landmark shift for the mining sector
The Saudi Ministry of Investment has announced that foreign companies will now be eligible for 100% ownership of mining licences across the Kingdom, removing the previous 75% cap that has been in place since 2004.
This change, effective from Q2 2026, is part of the Kingdom's broader strategy under Vision 2030 to attract US$170 billion in mining investment by 2030. Saudi Arabia holds an estimated US$1.3 trillion in untapped mineral resources, including gold, phosphate, bauxite, and rare earth elements.
What this means for Australian companies
Australia's mining services sector — the world's largest — is uniquely positioned to benefit:
- Exploration services: Australian firms lead globally in geological survey, geospatial mapping, and resource estimation
- Mining technology: Autonomous haulage, remote operations, and predictive maintenance — all areas where Australian companies are world leaders
- Training and workforce development: The Kingdom needs 200,000 skilled mining workers by 2030
Chamber support
The Australia & Saudi Arabia Business Chamber is organising a dedicated mining sector briefing for members in Q3 2026. Members at GROW tier and above will receive priority access to the Chamber's introductions programme with the Saudi Ministry of Industry and Mineral Resources.
Contact the Chamber at admin@australiasaudi.com to register your interest.