UK to Forge Critical Minerals Partnership with Saudi Arabia at Future Minerals Forum

The UK is set to sign a critical minerals partnership with Saudi Arabia during the Future Minerals Forum in Riyadh this week. The agreement is part of a broader effort by the UK to secure vital supplies of critical minerals, essential for manufacturing technologies like smartphones, laptops, artificial intelligence (AI), and clean energy solutions.

UK Industry Minister Sarah Jones is leading a trade delegation of 16 British critical minerals companies, including Cornish Lithium and Beowulf Mining, to the forum. The companies will showcase their expertise and capabilities at the UK Pavilion, highlighting their contributions to industries at the forefront of the UK’s economic growth strategy.

“Critical minerals are increasingly vital to our economy as we turbocharge AI, clean energy, and new technologies,” said Minister Jones. “In the global race for economic growth and in an increasingly uncertain world, the UK must secure supplies of these critical minerals.”

The agreement aims to enhance UK-Saudi cooperation in developing secure critical minerals supply chains and attract Saudi investment into the UK. Securing these supply chains is crucial for advancing the UK’s forthcoming Industrial Strategy, which focuses on growth sectors like advanced manufacturing and renewable energy. Products such as electric vehicles and wind turbines depend on a steady supply of critical minerals, as do data centers supporting AI development.

Prime Minister Keir Starmer recently emphasized the importance of AI to the UK’s economic future, unveiling a plan to establish Britain as an “AI superpower.”

During her visit, Minister Jones will meet with Saudi Arabia’s Industry and Mineral Resources Minister Bandar Alkhorayef and participate in a ministerial roundtable with key sector players before signing preliminary agreements.

This visit aligns with ongoing negotiations for a free-trade agreement (FTA) between the UK and the Gulf Cooperation Council (GCC). Trade between the UK and GCC member states, which include Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the UAE, currently totals £57 billion annually. A finalized FTA is expected to add £8.6 billion in trade annually over the long term.