Minister of Investment Khalid Al-Falih said that the National Investment Strategy aims to raise capital in the mining sector from approximately SAR45 billion in 2024 to nearly SAR92 billion between 2025 and 2030. This includes doubling foreign direct investment in the sector and creating an investment environment capable of delivering average internal rates of return ranging between 20% and 30%.
He made the remarks during a dialogue session titled “Time for Bold Action: Creating a Global Mineral Fund to Supercharge Investment,” held on the sidelines of the Future Minerals Forum 2026 in Riyadh. The session addressed challenges facing international investment in mining and explored ways to keep pace with rapidly rising global demand for critical minerals.
The session featured Managing Partner and Deputy Group Chief Executive at Orion Resource Partners Michael Barton; Chief Strategy Officer of Energy Pathways at The Carlyle Group Jeff Currie; Founder and Chairman of Integra Capital Dr. José Luis Manzano; Head of Global Affairs at Appian Advisory Dominic Raab; and President and Chief Executive Officer of Ivanhoe Electric Taylor Melvin.
Al-Falih stressed that the current phase requires bold and coordinated action by governments, the private sector, and global financial institutions to overcome financing challenges and accelerate the development of mining projects across the value chain. He noted that rising global demand for strategic minerals reflects a long-term structural shift rather than a temporary market cycle.
He added that the Kingdom has adopted a comprehensive approach to addressing sector challenges, including increasing exploration spending fivefold between 2020 and 2024 and shortening project timelines to reach production within eight to ten years. This approach is supported by integrated infrastructure, including roads, railways, ports, and logistics networks, as well as globally competitive value chains in aluminum and phosphate.
