Saudi Arabian Mining Corporation (Maaden) has signed a Memorandum of Understanding (MOU) with US rare earth materials company MP Materials to create a fully integrated, end-to-end end-to-end rare earth supply chain.

This includes mining, separation, oil refining and production of magnets, aiming to enhance industrial depth and generate value for the downstream sector.

The agreement was signed on bystanders at Riyadh 2025-Sudi Investment Forum, strengthening the ongoing economic relations between Saudi Arabia and the United States, highlighting the strategic coherence of the two countries in strengthening key mineral supply chains.

In April 2025, Maaden started the process of selecting international companies to establish a rare earth processing partnership, aiming to position the kingdom as a key mineral hub.

Bob Wilt, CEO of Maden, said: “Through a potential partnership with Congressman Materials, and our in-depth connections with the United States, we aim to create a globally integrated rare earth value chain for global hubs to support the Kingdom’s advanced manufacturing industry.

“As we continue to establish mining as the third pillar of the Saudi economy, it is an integral part of exploring and developing minerals that will drive the kingdom’s economic and industrial growth.”

The agreement marks a step towards development and risk reduction towards potential rare earth elements (REE) deposits in Saudi Arabia, as the country aims to position itself as a leading player in key mineral sectors.

With Saudi Arabia’s competitive energy foundation, infrastructure and strategic geographical location, the partnership aims to diversify and expand global rare earth supply chains in response to the increase in demand for rapidly growing industries.

"The announcement is an important first step to rebalance global supply chains at a time of transformative growth driven by emerging technologies, especially in robotics and physical AI, while deepening the strategic alliance between the United States and Saudi Arabia," said James Litinsky, founder of Congress Materials.

“Maaden, Maaden, MP Materials Partners Develop Saudi Rare Earth Supply Chain” was originally created and published by GlobalData-owned brand Mining Technology.

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