Saudi Arabian Mining Company has signed an agreement with MP Materials Corp. to explore opportunities to establish a fully integrated, end-to-end rare earth supply chain. The two companies will explore opportunities to jointly develop a vertically integrated rare earth supply chain in Saudi Arabia, including mining, separation, refining, and magnet production, to drive industrial depth and create value for downstream sectors.
A Memorandum of Understanding (MoU) was signed on the sideline of the U.S.-Saudi Investment Forum 2025, taking place in Riyadh. This agreement combines world-class exploration and processing expertise to advance and de-risk the development of potential Rare Earth Element (REE) deposits across Saudi Arabia as it continues to position itself as a player in the critical minerals sector. Maaden and MP Materials aim to explore opportunities to jointly develop a vertical integrated rare earth supply chain inSaudi Arabia, including mining, separated, refining, and magnet production.
Rare earth magnets are essential components in critical technologies spanning transportation, energy, robotics, and aerospace. Leveraging Saudi Arabia's competitive energy base, world-class infrastructure, and strategic location, this collaboration will diversify and expand the global rare earth supply chain, supporting rising demand from fast-growing industries. This announcement cements the continued economic ties between Saudi Arabia and the United States and underscores the strategic alignment of the two countries in strengthening critical mineral supply chains and supporting advanced manufacturing industries.
