US and Saudi companies pen rare-earth agreement
Saudi Arabian Mining Company Ma'aden and US rare-earth producer MP Materials agree to an integrated rare-earth supply chain.
This will include mining, separation, refining and magnet production, to drive industrial depth and create value for downstream sectors.
A Memorandum of Understanding was signed during the US-Saudi Investment Forum 2025, taking place in Riyadh.
Bob Wilt, CEO of Ma'aden, says '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.'
James Litinsky, Founder, Chairman & CEO of MP Materials, says, 'Today’s 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.'
