The government of Saudi Arabia was represented by Minister of Energy Prince Abdulaziz bin Salman, who also serves as Chairman of the Saudi side of the Saudi-American Strategic Economic Partnership Committee. The U.S. side was represented by Secretary of the Interior Doug Burgum. Under the framework, both countries will work to enhance the security, stability, and sustainability of supply chains by leveraging U.S. expertise in the sector and Saudi Arabia's expanding mining capabilities, supported by the Kingdom's strategic advantages and significant mineral resources. The agreement underscores the strength of the Saudi-U.S. relationship and their commitment to building reliable, sustainable supply chains that contribute to global economic growth. It also supports the development of joint projects that advance the shared interests of both nations. A central objective of the framework is to position Saudi Arabia as a regional hub for processing rare earth minerals and producing permanent magnets. The arrangement is also expected to reinforce supply chains for key Saudi industries, including the manufacturing of components essential to the energy sector. In a statement, Burgum said: "Signed an agreement with Saudi Arabia to boost investment & production of rare earth elements. Critical minerals power everything from hot water tanks to our defense, energy & tech sectors. President of the United States is securing our supply chain & advancing U.S. mineral independence with this deal!" The signing comes as relations between Saudi Arabia and the United States continue to deepen, with the Crown Prince's visit focused on expanding bilateral cooperation across vital sectors. Alongside the broader strategic agenda, a series of side-line agreements—including this framework—are reinforcing the momentum of the partnership. The initiative also aligns with Saudi Arabia's Vision 2030 economic transformation, which aims to diversify the national economy and reduce reliance on oil. Strengthening critical mineral supply chains and developing advanced industries form a core pillar of this shift, positioning the Kingdom for long-term, sustainable growth.
