‎Mineral exploration spending at SAR 487/km2; surpasses Vision 2030 target: Official

Spending on mineral exploration activities in the Kingdom has increased by over 600% since 2018, reaching SAR 487 per square kilometer (km2) in 2024, exceeding the target set under Saudi Vision 2030, said Abdullah Al-Shamrani, CEO of the Saudi Geological Survey (SGS).

This significant increase resulted from accelerated geological surveying and exploration activities across the Arabian Shield, supported by government funding alongside private sector investment, Al-Eqtisadiah reported, citing Al-Shamrani on the sidelines of the GeoMin Forum.

In 2018, the exploration spending index in Saudi Arabia stood at SAR 80 per km2, while the Vision 2030 target aimed to raise this figure to SAR 200 per km2.

Spending on mineral exploration activities in the Kingdom has increased by over 600% since 2018, reaching SAR 487 per square kilometer (km2) in 2024, exceeding the target set under Saudi Vision 2030, said Abdullah Al-Shamrani, CEO of the Saudi Geological Survey (SGS).

This significant increase resulted from accelerated geological surveying and exploration activities across the Arabian Shield, supported by government funding alongside private sector investment, Al-Eqtisadiah reported, citing Al-Shamrani on the sidelines of the GeoMin Forum.

In 2018, the exploration spending index in Saudi Arabia stood at SAR 80 per km2, while the Vision 2030 target aimed to raise this figure to SAR 200 per km2.