Saudi Arabian Mining Company (Maaden) has entered into a memorandum of understanding with US-based MP Materials to develop a comprehensive rare earth supply chain in Saudi Arabia, according to information presented at the US-Saudi Investment Forum 2025 in Riyadh.
This partnership will cover the entire process—from mining and separation to refining and magnet manufacturing—aiming to strengthen Saudi Arabia’s industrial base and add value to downstream sectors. The agreement supports the kingdom’s ambition to become a key player in the global critical minerals market.
Maaden began searching for an international partner in April 2025 to help establish a rare earth processing operation, furthering its goal of becoming a regional hub for these essential materials. Maaden CEO Bob Wilt emphasized that this collaboration is a significant move in expanding mining as a central pillar of the Saudi economy and will drive both industrial and economic growth.
James Litinsky, founder, chairman, and CEO of MP Materials, highlighted that this initiative is a foundational step toward diversifying the global rare earth supply chain, particularly as demand rises from sectors like robotics and advanced manufacturing. The agreement also underscores the strengthening strategic partnership between the United States and Saudi Arabia.
With its strong energy resources, advanced infrastructure, and strategic location, Saudi Arabia aims to reduce risks in rare earth element development while meeting the rising global demand for critical minerals.
