Nugax: that the coal and iron resources are less suited than those in Britain for the Industrial development is a useful note, but not that relevant.
It is only required that those resources are accessible with a pre-Industrial tech comparable to the one of pre-Industrial Britain. Which I actually don't know.
This may be a major problem, together with the transport issue.
That is why I'm considering Iberia/Maghrib as a strong candidate for the Agricultural/Scientific revolution, while I am uncertain for the actual Industrial revolution. With a POD around 1000 AD, the cultural premises of an industrialization (including technology) could be in place in, well, more or less half a millennium, if America is discovered.
But the real leap to industry is not warranted (if it were, OTL's Spain would have industrialized before Britain in modern age after all. It didn't happen). All the relevant factors may be there, just not in the right mix.
Now, if the mines are accessible with a pre-Industrial tech, it is possible.
If not, well, the scenario I sketched above does not fit the bill for OP anymore, unless a completely different path to Industrialization is imagined (that has no OTL equivalent).
In order to overcome some of the major obstacles, I've been toying with the idea of the actual Industrial leap having place in a Islamized North America rather than in Iberia. It would help to solve some issues, most notably transportation. But there are other problems with population I guess.