About this episode
Saudi Arabia has doubled exploration spending year over year, reaching SAR 1.05 billion in 2024, as the Kingdom pushes to expand grassroots discovery while global budgets remain under pressure. Speaking with Kitco Mining at PDAC 2026 in Toronto, Abdulrahman Al-Belushi, Deputy Minister of Mineral Resources Management at Saudi Arabia’s Ministry of Industry and Mineral Resources, outlined how mining is being positioned as a pillar of industrial strategy.“We look at the mining sector as an economic play rather than a fiscal play,” Al-Belushi said, citing supply chain priorities across gold, copper, rare earths, zinc, and phosphate. Saudi Arabia has about 78,000 km² under exploration license and plans to tender 13,000 km² in 2026 under a merit-based system.Al-Belushi also discusses:• 60% of exploration spending going to grassroots work• Up to $2 million reimbursable support per license, up to 15 licenses• 15% performance bonds to back work commitments• Saudi Arabia’s top 10 global ranking in Fraser Institute’s 2025 surveyDon’t forget to subscribe to the Kitco Mining & Kitco News YouTube channels to stay up to date on the latest industry news and interviews.Special thanks to our sponsors, GoldMining Inc., U.S. Gold Mining Inc., UEC & URC for making this coverage possible.To learn more, visit:https://www.goldmining.com/https://www.usgoldmining.us/https://www.uraniumenergy.com/https://www.uraniumroyalty.com/00:32 - Saudi Mining Vision and Industrial Strategy01:36 - Arabian Shield Geology and Deposit Types04:05 - Gold, Copper, Rare Earths, and Phosphate Priorities06:28 - Exploration Spending Doubles to SAR 1B07:54 - $2M Exploration Enablement Program Explained09:40 - 13,000 km² Tender Round and 2026 Pipeline12:14 - 100% Foreign Ownership and Entry Model13:59 - Partner Strategy and Lessons From Oil Sector15:43 - Saudi Arabia’s Processing Hub Ambitions__________________________________________________________________Kitco Mining is dedicated to reporting on the mining industry. Our mandate is to be the top resource for all mining information and news, offering a clear perspective on where the industry is going through breaking news coverage, mining trends, and in-depth reporting, presented with precious, rare earth, base metals, and industry stock prices.Get important precious and base metal updates while on the go with the Kitco Gold LIVE! app - https://applications.kitco.comStay connected with usX - https://x.com/KitcoMiningInstagram - https://www.instagram.com/kitcominingLinkedIn - https://www.linkedin.com/company/kitco-miningFacebook - https://www.facebook.com/KitcoMiningConnect with the Kitco Mining anchorsPaul Harris - https://x.com/paulharrisgold For more in-depth mining coverage, visit us here - https://www.kitco.com/miningDi
