Saudi's Ma'aden seeks partnership to establish rare earths facility to diversify economy

From Yahoo Finance: 2025-04-09 10:53:00

Saudi Arabian mining company Ma’aden is seeking an international partner to establish a rare earths processing facility in Saudi Arabia, aiming to tap into the kingdom’s $2.5 trillion mineral reserves. Potential partners include US-based MP Materials, China’s Shenghe Resources, Australia’s Lynas Rare Earths, and Canada’s Neo Performance Materials. The chosen company will collaborate with Ma’aden to develop efficient mining and processing methods by the end of June. Saudi Arabia’s push for rare earths aligns with Crown Prince Mohammed Bin Salman’s Vision 2030 to diversify the economy beyond oil dependence, with investments in smelting projects and strategic partnerships. China’s dominance in rare earths refining highlights the strategic importance of Saudi Arabia’s move to establish itself as a critical minerals hub.



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