Riyadh — Saudi Arabian Mining Company (Maaden) signed a Memorandum of Understanding with U.S.-based MP Materials to explore the development of a fully integrated rare earth supply chain in Saudi Arabia. The deal, announced during the 2025 U.S.–Saudi Investment Forum in Riyadh, marks a strategic push to position the Kingdom as a global hub for critical minerals.
The collaboration will focus on mining, separation, refining, and magnet production—establishing an end-to-end value chain for rare earth elements (REEs), which are essential to industries such as energy, transportation, robotics, and aerospace.
“This partnership lays the groundwork for a vertically integrated supply chain that supports advanced manufacturing in the Kingdom,” said Bob Wilt, CEO of Maaden. “It’s a vital step in transforming mining into the third pillar of Saudi Arabia’s economy.”
Maaden and MP Materials will combine exploration capabilities and processing expertise to de-risk and accelerate the development of REE deposits across Saudi Arabia. The initiative also aims to leverage the Kingdom’s competitive energy base, industrial infrastructure, and strategic location to meet the growing global demand for rare earth magnets.
James Litinsky, Founder and CEO of MP Materials, described the agreement as “a first step towards rebalancing the global supply chain during a period of transformational growth,” citing applications in robotics and physical AI.
The agreement underscores deepening Saudi–U.S. economic relations and aligns with Vision 2030 goals to diversify the Kingdom’s economy and localize high-value industrial supply chains.
