On March 28th, the Saudi government announced that it will invest 8.5 billion riyals (approximately 2.26 billion US dollars) in key gold and phosphate mining projects by 2025, which is a key measure of the country's "2030 Vision" economic diversification strategy. Maaden, as the implementing entity, will focus on developing high potential mining areas within its borders, further unleashing the value of mineral resources valued at over $2.5 trillion.

Core investment direction:

1. Gold development: Based on the existing 323 tons of gold reserves (the first in the Arab world), new intelligent mining facilities will be built

2. Upgrading phosphate ore: building a world-class phosphate chemical industry chain and increasing the proportion of high value-added products

3. Exploration expansion: Accelerate the approval of new mining rights on the basis of 477 exploration licenses already issued

Strategic significance:

Make mining the fourth major economic pillar after oil, tourism, and new energy

It is expected that the contribution rate of mining to GDP will increase from the current 3% to 9% by 2030

Create tens of thousands of job opportunities and promote the construction of local industrial system

The Saudi Ministry of Industry and Mineral Resources stated that this investment will adopt internationally leading digital mining technology and attract global investors through a public-private partnership model. Analysts point out that as the global energy transition accelerates, Saudi Arabia is building a new economic ecosystem for the future through systematic development of precious metals and strategic mineral resources. (This article is from the official website of Jian Dao www.seetao.com. Reproduction without permission is prohibited, otherwise it will be prosecuted. Please indicate Jian Dao website+original link when reprinting.) Jian Dao website strategy column editor/Wu Juan