Saudi Arabia's mineral wealth is currently estimated at more than $1.3 trillion, including deposits of copper, zinc, phosphate, uranium and gold. The announcement was made at an online meeting organized by Assistant Undersecretary of State for Investment Development Turki Al-Babtain with a group of British investors.

Turki Al-Babtain presented investment opportunities in Saudi Arabia, as well as the infrastructure offered to investors in the mining sector. He said the Kingdom is working to create an attractive investment environment in the sector through a new mining investment system that provides clear and fair legislation for investors to get the most out of the minerals.

According to a ministry official, Saudi Arabia's mining strategy is based on four important pillars: launching a regional geological research program to provide and publish geophysical and geochemical data to reduce investment risks; ensuring a favorable investment climate by developing a legal and regulatory framework for mining; reviewing environmental, social and corporate governance practices; and working to create integrated value chains.

Saudi Arabia has doubled its shares in the mining sector, investing more than $50 billion in recent years.