“Going forward, we expect to see an increase in international investment in mining, particularly because demand for minerals around the world is growing fast. According to geological surveys dating back 80 years, the kingdom has an estimated reserve of untapped mining potential valued at $1.3 trillion.”

-Khalid Al-Mudaifer, Saudi vice-minister for mining affairs, discussing plans to auction two major mining licenses in 2022 for commodities including gold, copper and zinc. [S&P Global]