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Saudi Arabia Aims for Mineral Powerhouse Status, Eyes Africa for Expansion

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louis Buyisiwe

Mar 16, 2024

Saudi Arabia's engagement with Africa represents a shift from traditional aid to investment-based relationships, promising to leave a lasting positive impact on the continent's mining sector. This approach not only offers African countries an alternative to existing mining giants and Chinese interests but also potentially aligns them with broader U.S. mineral strategies

Saudi Arabia's engagement with Africa represents a shift from traditional aid to investment-based relationships, promising to leave a lasting positive impact on the continent's mining sector. This approach not only offers African countries an alternative to existing mining giants and Chinese interests but also potentially aligns them with broader U.S. mineral strategies
South African president and Saudi Arabia’s Crown Prince Mohammed bin Salman

Riyadh, with visions of becoming a global minerals and industrial hub, is turning to Africa to fill the gaps in its domestic mining capabilities. Despite holding an estimated $2.5 trillion worth of minerals, Saudi Arabia recognizes the need for international partnerships to harness a broader range of resources. As the kingdom looks to reduce its dependency on oil, per its "Vision 2030" strategy, it has identified Africa's rich mineral deposits as key to this transformation.


Khalid al-Mudaifer, Saudi's Deputy Mining Minister, emphasized the kingdom's commitment to not just extracting resources but also contributing to the development of local infrastructure, technology, and education in African mining communities. This approach aims to ensure mutual growth and value retention within these nations.

Recent deals with four African countries and discussions with the U.S. to secure critical minerals for energy transitions underscore Riyadh's proactive steps. The kingdom's investment in mining, including a $15 billion global mining stake acquisition, showcases its long-term strategy. Furthermore, Saudi Arabia's hosting of the Future Minerals Forum, attended by numerous African nations, highlights its rapidly growing influence in the global mining sector.


Saudi Arabia's engagement with Africa represents a shift from traditional aid to investment-based relationships, promising to leave a lasting positive impact on the continent's mining sector. This approach not only offers African countries an alternative to existing mining giants and Chinese interests but also potentially aligns them with broader U.S. mineral strategies.


However, challenges such as building infrastructure and developing skilled labor in both Saudi Arabia and its African partners may pose hurdles to the kingdom's ambitious plans. Nonetheless, Saudi Arabia's strategic advantages and commitment to collaborative growth present a compelling proposition for African nations eager for sustainable economic development.

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