Saudi Arabia Mining Funding and Opportunities

Saudi Arabia pursuing Investments up to $15bn aimed to secure access to minerals used in solar panels, electric cars and other industries.

Saudi Arabia has launched a mining fund that plans to invest up to $15bn of capital in overseas assets as the country works to reduce its dependence on fossil fuels. The venture, 51% owned by Saudi state-owned miner Ma’aden, with the remainder owned by the country’s Public Investment Fund, will take non-operating minority stakes in mining projects internationally, the two companies said on Wednesday.

Mining is increasingly a key element of Saudi Arabia’s economic development, after energy and petrochemicals, as the Kingdom seeks to wean its economy off oil production and exports. The Kingdom’s mining industry has already attracted a number of foreign investors, most notably global giants Barrick Gold and Alcoa.The companies said that the fund’s initial capital would be $50mn and the two shareholders would provide just over $3bn “if additional funding is required”. 

Action plan for U.S. Companies: Plethora of opportunities exists for U.S. companies in the mining industry. If you are interested to learn more about Saudi Arabian mining opportunities, please reach out to Commercial Specialist Khalid Darazi at: Khalid.Darazi@trade.gov