Video News/PDAC 2026

Saudi Arabia has doubled exploration spending to SAR 1 billion from 2023 to 2024, with 60% allocated to grassroots programs, positioning the Kingdom as one of the few jurisdictions expanding early-stage discovery while global budgets remain constrained. Speaking with Kitco Mining at PDAC 2026 in Toronto, Abdulrahman Al-Belushi, Deputy Minister of Mineral Resources Management at the Ministry of Industry and Mineral Resources, outlined how mining is being embedded into national industrial policy. “We look at the mining sector as an economic play rather than a fiscal play,” he said. Approximately 78,000 square kilometers are now under exploration license, with 13,000 square kilometers scheduled for tender in 2026 under a merit-based system. Through the Exploration Enablement Program, companies can receive reimbursable grants of up to $2 million per license, capped at 15 licenses, alongside 15% performance bonds to ensure work commitments. Saudi Arabia was recently ranked among the top 10 global mining jurisdictions in the Fraser Institute’s latest investment attractiveness index.