2025-05-15
US rare earth miner MP Materials said on May 14 that it had signed a memorandum of understanding with Saudi Arabia’s mining flagship Saudi Arabian Mining Company (Maaden) to jointly develop a rare earth supply chain in Saudi Arabia. The agreement was signed during the US-Saudi Investment Forum. The cooperation between the two will include the mining, separation, refining and magnet production of rare earth minerals.
Saudi Arabia has been striving to become a global critical mineral center. Last month, Reuters reported that Saudi Arabian Mining Company was considering establishing a rare earth partnership with at least one of four foreign companies, including MP Materials of the United States, Shenghe Resources of China, Lynas Rare Earths of Australia and Neo Performance Materials of Canada.
