Saudi Arabia will host the final stage of the first Global Minerals Innovation Competition in Riyadh, bringing together more than 350 participants in January for an intensive innovation “boot camp,” according to the Saudi Press Agency.
The closing event, called Future Minerals Pioneers, follows a nationwide tour that began in October and drew over 1,800 participants from 57 countries, the Saudi Press Agency reported. Seventy teams reached the final phase, with just over two-thirds of their members coming from within the Kingdom.
The boot camp will run from Jan. 8 to 10 and will include workshops, training, and mentoring before teams present their solutions to a panel of judges. Winners are set to be revealed during the fifth Future Minerals Forum on Jan. 14, according to the Saudi Press Agency.
Held under the patronage of His Excellency Bandar Alkhorayef, Minister of Industry and Mineral Resources, and led by His Excellency Khalid bin Saleh Al-Mudaifer, Vice Minister for Mining Affairs, the competition is organized by the National Industrial Development and Logistics Program in cooperation with the Ministry of Industry and Mineral Resources and Saudi Arabian Mining Co.
The contest focuses on three tracks: smart technologies, security and safety, and resource sustainability. Its aim is to generate practical solutions across the mining value chain and support a stronger innovation ecosystem in the sector, the Saudi Press Agency reported.
Rising mining attractiveness and geological survey drive
According to a report by the Canada-based Fraser Institute, the Kingdom has rapidly improved its position on the Mining Investment Attractiveness Index, climbing to 23rd place in 2024 from 104th a year earlier. The same report also shows Saudi Arabia rising to 20th on the Policy Perceptions Index (from 82nd) and to 24th on the Geological Potential Index (from 58th), reflecting increasing international confidence in its mining environment.
These gains support national efforts to tap mineral resources valued at SR9.4 trillion ($2.5 trillion), according to the Fraser Institute. Progress is being driven by the General Program for Geological Surveying, which is building a comprehensive national geological database; about two-thirds of the first phase, covering 630,000 square kilometers of the Arabian Shield, has already been completed.
Together, the innovation competition and the broader geological survey program underscore Saudi Arabia’s strategy to position mining as a key pillar of its future economy and attract long-term global investment into the sector.
