Saudi Arabia faces a pivotal moment in its push to build a metals and mining hub, with foreign players still showing more hunger for the kingdom’s cash than a willingness to deploy their capital.

The global mining industry requires $6 trillion in investments over the next decade to meet rising demand, presenting a major challenge for the sector. This figure was revealed by Saudi Minister of Industry and Mineral Resources Bandar Al-Khorayef during an international meeting of mining ministers.

Saudi Arabia is actively seeking critical minerals such as copper and lithium to develop its battery and EV manufacturing sector.