Riyadh 2026: When Minerals Become the “Oil of the Future” — and the Decision Is Saudi
By Samer Choucair
Investment Pioneer and Elected Honorary Member of the Lebanese Council
On the morning of Tuesday, January 13, 2026, Riyadh no longer feels like a political capital — it resembles a global economic command center. As the fifth edition of the International Mining Conference opens its doors, every visitor walking the halls of the King Abdulaziz International Conference Center senses that this is not a ceremonial gathering, but a Saudi-led rewriting of the global wealth map.
From the Depths of the Earth to the Summit of the World
Only a few years ago, mining in Saudi Arabia was discussed under the banner of “economic diversification” — an ambitious slogan. Today, World Bank reports and the data circulating among financial institutions tell a different story: that slogan has become irrefutable numbers.
For a nation to leap from 104th to 23rd place globally in mining investment attractiveness in such a short period is not gradual progress — it is a silent revolution in economic power. Riyadh realized early what others overlooked: critical minerals are the oil of the 21st century. Whoever controls copper, lithium, and rare earth elements holds the keys to the industries of the future — from electric vehicles to advanced semiconductors.
Why Is the World Rushing to Riyadh?
Investors today are no longer asking, “Should we invest in Saudi Arabia?” but rather, “How do we catch up?” The figures announced moments ago by Vice Minister Khalid Al-Mudhaifer are striking by every standard: the number of mining companies has surged from six to more than 226, while exploration spending has risen by 110%.
Yet beyond the numbers lies the decisive factor: strategic positioning. As global supply chains struggle with fragmentation, Saudi Arabia is emerging as the bridge linking Africa’s mineral wealth with the manufacturing powerhouses of Asia and Europe — supported by the region’s most advanced logistical and regulatory infrastructure. When the Ministry issues 138 mining licenses in a single month (November 2025), the message is clear: capital may be cautious, but in Riyadh it finds speed and security.
Betting on Minds, Not Just Rocks
What stands out to me as an entrepreneur is not only the SAR 9 trillion in resources beneath the ground, but what is being built above it. Investment in human capital — through mining institutes and the graduation of thousands of young Saudi professionals — shows that Vision 2030 is not about digging mines, but about building a fully integrated industry.
The partnership with the World Bank to close financing gaps and the launch of the “Future Minerals Indicators Report” yesterday place Riyadh at the intellectual and financial epicenter of the sector, just as it has long been in global oil markets.
Conclusion
With participation from 103 countries and the world’s leading chief executives, Saudi Arabia has clearly moved beyond the phase of “exploring opportunities” into that of leading the world.
The conference theme — “Minerals: Meeting the Challenges of a New Development Era” — can be captured in one sentence that is no longer rhetoric, but reality:
If oil built the twentieth century, minerals will build the twenty-first — and in both eras, Saudi Arabia is the architect.