Ministry of Industry and Mineral Resources

The Ministry of Industry and Mineral Resources is the Saudi government body established by Royal Order No. A/472 on August 30, 2019, responsible for developing the industrial and mining sectors in the Kingdom. The ministry oversees mining investment laws, the Exploration Enablement Program (EEP), and organizes the Future Minerals Forum (FMF). Under Minister Bandar Alkhorayef, the ministry has transformed Saudi Arabias mining sector, growing licensed mining companies from 6 to over 150, increasing exploration expenditure to SAR 1.33 billion, and reforming mining laws to attract international investment. The ministry is a key driver of Saudi Vision 2030s goal to make mining the third pillar of the national economy, with mineral potential estimated at US$2.5 trillion.