The Saudi Arabian Mining Company (Maaden) has signed a memorandum of understanding (MOU) with MP Materials, a US rare-earth materials company, to create a fully integrated, end-to-end rare earth supply chain within Saudi Arabia.
This includes mining, separation, refining and magnet production, all intended to enhance industrial depth and generate value for downstream sectors.
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The agreement, signed on the sidelines of the US-Saudi Investment Forum 2025 in Riyadh, reinforces the ongoing economic relationship between Saudi Arabia and the US, highlighting the strategic alignment of both nations in enhancing critical mineral supply chains.
In April 2025, Maaden initiated the process of selecting an international company to establish a rare earths processing partnership, aiming to position the kingdom as a critical minerals hub.
Maaden CEO Bob Wilt said: “Through a potential partnership with MP Materials, and our deepening ties with the US, we aim to create a global hub for a fully integrated rare earth value chain supporting advanced manufacturing in the kingdom.
“As we continue to build mining as the third pillar of the Saudi economy, this is an integral step in the exploration and development of minerals that will drive economic and industrial growth for the kingdom.”
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By GlobalDataThe agreement marks a step towards advancing and de-risking the development of potential rare earth element (REE) deposits in Saudi Arabia, as the nation aims to position itself as a leading player in the critical minerals sector.
With Saudi Arabia’s competitive energy base, infrastructure and strategic location, this partnership aims to diversify and expand the global rare earth supply chain in response to increasing demand from rapidly growing industries.
MP Materials founder, chairman and CEO James Litinsky said: “Announcement is an important first step towards rebalancing the global supply chain in a moment of transformational growth fuelled by emerging technologies – especially in robotics and physical AI – while deepening the strategic alliance between the United States and Saudi Arabia.”
