Saudi Arabia is reaching out to Canadian firms, offering them a stake in its growing mining industry. At a recent meeting in Vancouver, officials from the Ministry of Industry and Mineral Resources shared details of new investment opportunities and outlined the Kingdom’s Comprehensive Mining Strategy.
The discussions emphasized Saudi Arabia’s strengths as an investment destination and its commitment to expanding the mining sector as part of broader economic diversification efforts. The country’s mineral resources are valued at approximately $2.48 trillion, making the sector a key target for international investors.
This initiative is part of a broader campaign that includes the annual Future Minerals Forum, designed to connect global industry leaders and address sector challenges. The Vancouver event is one in a series leading up to the next forum, with participants recognizing the forum’s influence on the future of global mining.
Similar investment seminars have been held in Toronto, building on renewed diplomatic ties and high-level visits between Canada and Saudi Arabia. The Kingdom is also interested in Canadian expertise in digital finance, geological research, and workforce development, supporting its goal of creating an innovative, knowledge-driven mining sector under Vision 2030.
Trade figures from 2023 show that Saudi Arabia exported mainly base metals and plant products to Canada, while imports from Canada included locomotives, pharmaceuticals, and advanced equipment, reflecting broadening economic cooperation between the two nations.