MP Materials and Saudi Arabia’s Ma’aden Launch Strategic REE Partnership

On May 14, 2025, MP Materials and Saudi Arabia’s state mining giant Ma’aden signed a landmark memorandum of understanding (MoU) to jointly build a fully integrated rare earth elements (REE) supply chain in Saudi Arabia. The agreement, formalized during the U.S.-Saudi Investment Forum 2025 in Riyadh, outlines plans to establish capabilities across mining, separation, refining, and magnet production. The move supports Saudi Arabia’s Vision 2030 goal to diversify its economy and reduce global dependence on China for critical minerals vital to clean technology and defense.