Saudi Arabia Faces Investor Doubts Over Big Mining Ambition
- Kingdom touts $100 billion in mining investment opportunities
- Vedanta among biggest foreign miners to enter Saudi market
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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.
As the metals industry gathered for the Future Minerals Forum in Riyadh last week, at least a dozen attendees that commented to Bloomberg spoke of their desire to court Saudi money rather than invest in the nation just yet. Many awaited details on how talk of big deals and plans for metals plants are playing out on the ground.