Building a new global rare earth supply chain

MP Materials, a leading U.S. rare earths miner, has entered a transformative partnership with Saudi Arabia’s flagship mining company, Maaden, to jointly develop a rare earth supply chain in the Middle East. This milestone collaboration was formalized during the US-Saudi Investment Forum, an event that also marked the announcement of a $600 billion Saudi investment across energy, defense, and mining sectors.

Central hub for critical minerals

As the global demand for critical minerals surges, fueled by advancements in AI, electric vehicles, and green technologies, Saudi Arabia is positioning itself as a central hub for critical minerals processing. The partnership with MP Materials signifies a key step in this journey, encompassing mining, separation, refining, and magnet production of rare earth elements.

Important first step

James Litinsky, CEO of MP Materials, „Today’s announcement is an important first step toward rebalancing the global supply chain, particularly in robotics and AI, while strengthening the strategic ties between the United States and Saudi Arabia”.

Bob Wilt, CEO of Ma’aden, highlighted the significance of this alliance, calling it “the third pillar” of the Saudi economy.