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RIYADH: ������Ƶ showcased its mining reforms and investment opportunities at the PERUMIN 37 Mining Conference in Arequipa, Peru, aiming to position the Kingdom as a global hub for minerals and downstream processing.

A delegation comprising representatives from the Ministry of Industry and Mineral Resources, the Saudi Geological Survey, and the Saudi Mining Services Co. highlighted ������Ƶ’s commitment to sustainable mineral resource development, the Saudi Press Agency reported.

The group also emphasized the upcoming fifth edition of the Future Minerals Forum, scheduled for January 2026 in Riyadh. 

The Kingdom’s participation comes amid a sharp rise in mining exports, which have surged by about 80 percent due to increased production of key minerals including phosphate, iron, aluminum, copper, and gold.  

According to a report in August, current and planned investments in the sector are estimated at SR180 billion ($48 billion), as ������Ƶ intensifies its strategy to position itself as a global hub for mineral resources.  

This expansion aligns with broader government efforts to boost exports and attract high-quality foreign investment into downstream processing industries. 

During PERUMIN 37, Abdulrahman Al-Belushi, deputy minister for Mining Resource Development, stated that ������Ƶ and Peru share a strong commitment to leveraging mining as a driver of economic growth.  

“He explained that ������Ƶ’s participation in PERUMIN 37 reflects its belief in the importance of cooperation and knowledge exchange to support mineral supply chains, serving the goals of global digital and energy transitions,” the SPA report added. 

Al-Belushi reiterated the Kingdom’s strategic objective of transforming mining into a third pillar of the national economy under Vision 2030.  

He noted that ������Ƶ holds mineral resources valued at over SR9.4 trillion and has enacted policies to enhance investment attractiveness. 

These include the development of integrated infrastructure from mine to market and the pursuit of international partnerships to strengthen global supply chain resilience. 

Recent initiatives presented by the Saudi delegation include the launch of mining exploration license rounds via the digital Tadween platform, which ensures transparency and equal opportunity for investors.  

The ministry has also introduced the Mining Exploration Enablement Program to support companies with valid licenses for less than five years, offering up to SR7.5 million per project to mitigate early-stage investment risk. 

“The Kingdom also offers competitive incentives through its mining investment regime, including full foreign ownership, in addition to financing provided by the Industrial Development Fund to support mining exploration,” Al-Belushi said, as reported by SPA. 

He highlighted the National Geological Database, which compiles over 80 years of geological data, alongside a comprehensive regional survey program to deepen knowledge of the Arabian Shield. 

The Saudi delegation emphasized the Kingdom’s interest in expanding strategic partnerships with Latin American nations, especially Peru — a leading global producer of copper, silver, and zinc. 

Discussions between Saudi and Peruvian officials explored collaboration in exploration technologies, artisanal mining challenges, and joint investments to strengthen global supply chains. 

On the sidelines of the event, the Saudi team held several bilateral meetings with leading Peruvian and international exploration and mining companies to showcase investment opportunities in ������Ƶ and promote available incentives. 

RIYADH: Oman’s non-oil exports rose 11.3 percent to 3.89 billion Omani rials ($10.12 billion) by the end of July compared to the same period last year, new data has revealed.

According to preliminary figures from the National Centre for Statistics and Information, as reported by the Oman News Agency, the country’s overall trade surplus narrowed to 3.55 billion rials in the January–July period, down 34.6 percent compared to 5.43 billion rials during the same period last year. 

The decline is attributed mainly to a 17 percent drop in oil and gas exports, which fell to 8.58 billion rials, from 10.34 billion rials a year earlier.   

The increase in non-oil merchandise reflects growing demand for Omani industrial and manufacturing goods across key regional and international markets. 

As part of Oman Vision 2040, the government is actively working to reduce the economy’s dependence on hydrocarbons by promoting non-oil industries, enhancing local production capabilities, and expanding access to global markets. 

“The statistics revealed that Oman’s non-oil merchandise exports achieved notable growth of 11.3 percent, reaching a value of RO 3.890 billion by the end of July 2025, compared to RO 3.497 billion during the corresponding period in 2024,” the ONA report stated. 

The latest trade figures highlight the dual nature of Oman’s economic landscape. While the country remains exposed to volatility in energy markets, its diversification agenda is beginning to yield measurable results. 

This mirrors similar diversification efforts in regional peers such as ������Ƶ’s Vision 2030 and the UAE’s industrial and logistics strategies, though Oman’s smaller economy and resource base present unique challenges and opportunities. 

The report also shed light on the composition of Oman’s non-oil trade. Re-exports rose marginally by 0.5 percent to 1.4 billion rials, while total imports increased by 5.5 percent to 9.92 billion rials, reflecting resilient domestic demand and ongoing infrastructure development. 

The UAE emerged as Oman’s top non-oil trading partner, with non-oil exports to the Emirates climbing 27.8 percent to 698 million rials. ������Ƶ ranked second with 653 million rials, followed by India at 398 million rials.  

On the re-exports front, Iran and ������Ƶ followed the UAE, while China and Kuwait were among the top import sources into Oman. 

The sustained growth in non-oil exports signals a slow but steady transformation in Oman’s trade structure, supporting long-term efforts to build a more balanced and resilient economy.