Maaden and MP Materials partner to develop rare earth supply chain in Saudi Arabia

From Yahoo Finance: 2025-05-15 10:16:00

Saudi Arabian Mining Company (Maaden) and MP Materials sign MOU to establish rare earth supply chain in Saudi Arabia, covering mining to magnet production. Aim is to enhance industrial depth and value for downstream sectors. Agreement highlights strategic alignment between Saudi Arabia and US for critical mineral supply chains. Maaden aims to position kingdom as a critical minerals hub with potential partnership with MP Materials. Saudi Arabia aims to position itself as a leading player in the critical minerals sector with rare earth element development. Partnership aims to diversify global rare earth supply chain with Saudi Arabia’s competitive energy base and strategic location. MP Materials sees partnership as important for rebalancing global supply chain during transformational growth fueled by emerging technologies.

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