Saudi Arabian Mining Company (Maaden), one of the world’s fastest growing mining companies, has signed an Memorandum of Understanding (MoU) with MP Materials Corp (MP Materials”), the American fully integrated rare earth producer, to explore opportunities to establish a fully integrated, end-to-end rare earth supply chain.
This agreement combines world-class exploration and processing expertise to advance and de-risk the development of potential Rare Earth Element (REE) deposits across Saudi Arabia as it continues to position itself as a world-leading player in the critical minerals sector. Maaden and MP Materials aim to explore opportunities to jointly develop a vertically integrated rare earth supply chain in Saudi Arabia, including mining, separation, refining, and magnet production, to drive industrial depth and create value for downstream sectors.
Rare earth magnets are essential components in critical technologies spanning transportation, energy, robotics, and aerospace. Leveraging Saudi Arabia’s competitive energy base, world-class infrastructure, and strategic location, this collaboration will diversify and expand the global rare earth supply chain, supporting rising demand from fast-growing industries.