dvanced military systems, but global supply chains remain heavily dominated by China. According to the International Energy Agency, China controls more than 90% of global refined rare earth output and over 60% of rare earth mining production . Speaking at the Future Minerals Forum in Riyadh, Abigail Hunter, executive director of the Minerals Center at Securing America’s Future Energy (SAFE), said China is “light years ahead” of the United States due to decades of strategic state-backed investment and international coordination. Against this backdrop, Saudi Arabia is accelerating efforts to build a domestic mining and minerals processing sector, aiming to reduce its dependence on oil and strengthen its geopolitical influence. The kingdom says it holds an estimated $2.5 trillion in mineral reserves , including gold, zinc, copper, lithium and rare earth elements such as dysprosium, neodymium and terbium, which are vital for electric vehicles, wind turbines and high-performance computing. Saudi Arabia’s exploration budget rose by 595% between 2021 and 2025, according to S&P Global and the government has increased the pace of licensing mining sites to domestic and international firms. However, analysts caution that mining and processing are long-term projects. “Mining is a really long game,” Hunter said, noting that processing facilities can take years or even decades to develop. The kingdom is cutting red tape, lowering taxes and committing large-scale investment to close the gap with established mining nations. State-owned mining company Maaden announced plans at the forum to invest $110 billion over the next decade in metals and mining, including international partnerships and talent recruitment. Maaden CEO Bob Wilt said Saudi Arabia recognizes it “can’t do it alone.” Mining is a core pillar of Saudi Vision 2030 , the country’s economic diversification strategy, which also includes building downstream supply chains such as electric vehicle manufacturing. Experts say Saudi Arabia’s infrastructure and energy capacity could position it as a regional hub for refining critical minerals , including those mined in Africa and other parts of the Global South. The kingdom’s ambitions have also drawn growing interest from the United States , particularly as Washington seeks alternatives to China for mineral processing. China tightened export controls on some heavy rare earths last year, many of which have military applications. In November, Saudi Arabia announced plans to invest up to $1 trillion in US infrastructure, technology and industry , including cooperation on critical minerals. As part of that effort, US firm MP Materials , backed by the Pentagon, said it would partner with Maaden and the US Department of Defense to build a rare earth refinery in Saudi Arabia. The facility would be 49% owned by MP Materials and the Pentagon. Melissa Sanderson, co-chair of the Critical Minerals Institute, said Saudi Arabia’s reliable energy supply and Aramco’s technical expertise could help it emerge as a competitive, lower-cost processor, potentially challenging China’s dominance. However, she cautioned that environmental concerns, regional instability and diplomatic complexities could pose obstacles. Despite the risks, analysts say Saudi Arabia’s push into minerals is less about short-term profits and more about long-term strategic positioning. “This is not a game about immediate return,” Sanderson said. “This is a strategy about long-term power, long-term influence and long-term gain.”