MP Materials, Ma'aden to jointly develop rare earths supply chain in Saudi

U.S. rare earths miner MP Materials said on Wednesday it has signed a memorandum of understanding with Saudi Arabia's flagship mining company Ma'aden to jointly develop a rare earth supply chain in the Middle Eastern country. WHY IT'S IMPORTANT The agreement was signed on the sidelines of the U.S.-Saudi Investment Forum, where President Donald Trump secured a $600 billion investment from the kingdom which covered the energy, defense and mining sectors. Saudi Arabia has been pushing to become a global critical minerals hub at a time when minerals processing is fast becoming a necessity for tech-focused economies looking to produce their own building blocks for AI, electric vehicles and other ...