Latest news with #Maaden
The National
a day ago
- Business
- The National
Can the US use its Ukraine tactics to get Middle East minerals?
The US deal granting it future revenue and access to Ukraine's mineral sector raises a broader question: is this the beginning of a model for American foreign policy, one that links strategic resource access to long-term diplomatic and financial commitments? Shaped by the exceptional circumstances of war, the Ukraine deal may appear to be a one-off. Yet US President Donald Trump's recent Middle East visit, in which the White House claimed more than a trillion dollars in investment deals were signed, points to a broader trend: Washington's increasing willingness to align foreign policy with long-term economic interests, particularly in critical minerals. It is tempting to imagine the US might apply the Ukraine model in the Middle East, particularly with countries like Saudi Arabia and Jordan, where mining has become a growing policy focus. Riyadh especially is pursuing large-scale development of critical minerals as part of its economic diversification strategy to lessen dependence on oil. Riyadh has also overhauled its mining laws to attract foreign investment and accelerate exploration. Its state-owned mining giant, Ma'aden, has already entered partnerships with global firms like Barrick Gold and Ivanhoe Electric, signalling serious intent to build a world-class mining sector. But unlike Ukraine, neither is in a position of acute geopolitical distress. Saudi Arabia is wealthy, and critically, not short on suitors. It boasts a huge sovereign wealth fund, the Public Investment Fund, that finances domestic megaprojects. While Jordan's aid dependent economy is struggling, especially after the sudden suspension of US aid in February, it fairs better than Ukraine's dire straits of enduring a more than three-year war. Therefore, neither country is under pressure to pledge away its resources at a loss. That may not preclude Mr Trump from exploring similar proposals, however unlikely their acceptance. The American president has long preferred diplomacy with a balance sheet. His latest Gulf tour was no exception, with discussions focused on investment deals and economic co-operation, including energy sales. Administration officials have indicated a growing interest in financing structures that expand US access to critical minerals without increasing federal spending. Minerals race Minerals are no longer just commodities. Lithium, copper, and other rare earth metals are national security assets. From electric vehicles to semiconductors, the green transition is mineral-intensive, and China controls much of the supply chain. China processes more than 80 per cent of rare earths, dominates refining of lithium and cobalt, and plays a major role in battery and solar manufacturing. For Washington, ensuring access is becoming as vital as defending shipping lanes. Still, any notion of Saudi Arabia or Jordan signing over future profits or access to the US is, at best, aspirational. Riyadh has no intention of sharing control, or upside, of its mineral development. It might accept a US partner in a technical capacity, especially to access mining expertise or green tech. But anything more is unlikely. This does not mean deals will not be struck. Rather, the model would be likely to differ from used in Ukraine's. In Jordan's case, Washington might offer technology transfer or enhanced security guarantees, particularly in light of regional tensions with Iran, in exchange for priority access to minerals or a stake in local mining projects. Jordan, while more modest in scale, has significant reserves of phosphates and is exploring its potential in rare earth elements. The country's established mining infrastructure and close ties to Washington could make it a more flexible partner for future mineral agreements. With Saudi Arabia, it's harder. Saudi Arabia doesn't need a deal; the US does. That's leverage, and Riyadh knows it. Diplomatic capital Even if formal resource-sharing deals are unlikely, Washington's economic footprint in the Gulf is not insignificant. Access can take less visible forms. One route is through US companies that attract investment from Gulf sovereign wealth funds, like Abu Dhabi's ADQ, the Qatar Investment Authority and Saudi Arabia's Public Investment Fund. Capital often travels with a diplomatic agenda. In 2021, for instance, Saudi Arabia's PIF gave $2 billion to Jared Kushner, Mr Trump's son-in-law and former senior adviser, for his newly launched private equity firm, Affinity Partners. Many in the region regard the move as a gesture aimed at maintaining ties with Mr Trump's inner circle. However, if the US is indeed pivoting to a resource-driven foreign policy, it is doing so late in the day. China has spent two decades building state-backed mineral partnerships across Africa, Latin America, and increasingly the Middle East, often under its flagship Belt and Road Initiative. The US, by contrast, is just now scrambling to catch up. In this context, resource-sharing arrangements, however opaque, may become a new diplomatic currency. But even within Washington, the path forward is uneven. The push to secure minerals is tied closely to the green transition, a central concern for US tech giants, who need stable supplies for electric vehicles, batteries and data infrastructure. Yet on Capitol Hill, the political will is fragmented. While some Republicans support domestic mining as part of a broader push for energy independence and competition with China, many in the Make America Great Again wing of the party remain sceptical of the green agenda itself. Still, lithium, cobalt, rare earths are vital to American interests. Electric vehicles, wind turbines, and advanced batteries all depend on them. But securing reliable access to these materials will take more than high-profile deals in Riyadh. It will require sustained investment in mining and processing capacity, long-term contracts with trusted partners, and clear policy signals that outlast election cycles. Ukraine's resource-for-support deal may remain an outlier: born of war, scarcity and political imbalance. The Middle East, by contrast, is rich and assertive. Mr Trump may hope to carve out a mineral foothold, but the region is unlikely to surrender its resources without extracting something far more valuable in return. And in the transactional world of today's geopolitics, the price of access is always going up.
Trade Arabia
3 days ago
- Business
- Trade Arabia
Saudi Pro League announces long-term partnership with Maaden
The Saudi Pro League (SPL) and Saudi Arabian Mining Company (Maaden) have agreed a long-term strategic partnership, with Maaden named the Official Platinum Partner of the SPL until July 2030. Omar Mugharbel, CEO of SPL, said: 'We are proud to welcome Maaden as a long-term partner of the Saudi Pro League. As a national champion and one of the region's fastest-growing companies, Maaden shares our commitment to excellence, innovation, and long-term impact. This partnership reflects the power of football to inspire and engage communities – including employees – and aligns closely with our shared goals under Vision 2030.' Bob Wilt, CEO of Maaden, said: 'Partnering with Saudi Pro League provides us with a unique platform for Maaden to bring our new brand to life and connect to a significant audience of passionate football fans across Saudi and internationally. We hope to engage our employees and inspire a new generation of mining talent as we evolve this partnership together with SPL.' The partnership will focus on strengthening Maaden's position as an employer of choice in Saudi Arabia, leveraging the reach and influence of the Saudi Pro League to drive employee engagement, promote career opportunities, and support the third pillar of Vision 2030: a thriving economy built on ambition and participation. The collaboration will also explore joint initiatives across community engagement and national talent development by harnessing the popularity of football to inspire the next generation of professionals in both sport and industry. By aligning Maaden's national presence with the SPL's growing domestic and international footprint, the partnership is set to create meaningful touchpoints with fans, employees, and future talent across Saudi Arabia.-
Zawya
3 days ago
- Business
- Zawya
Saudi Pro League announces long-term partnership with Maaden
The five-year deal will focus on strengthening Maaden's position as an employer of choice Riyadh, Saudi Arabia – The Saudi Pro League (SPL) and Saudi Arabian Mining Company (Maaden) have agreed a long-term strategic partnership, with Maaden named the Official Platinum Partner of the SPL until July 2030. Omar Mugharbel, CEO of SPL, said: 'We are proud to welcome Maaden as a long-term partner of the Saudi Pro League. As a national champion and one of the region's fastest-growing companies, Maaden shares our commitment to excellence, innovation, and long-term impact. This partnership reflects the power of football to inspire and engage communities – including employees – and aligns closely with our shared goals under Vision 2030.' Bob Wilt, CEO of Maaden, said: 'Partnering with Saudi Pro League provides us with a unique platform for Maaden to bring our new brand to life and connect to a significant audience of passionate football fans across Saudi and internationally. We hope to engage our employees and inspire a new generation of mining talent as we evolve this partnership together with SPL.' The partnership will focus on strengthening Maaden's position as an employer of choice in Saudi Arabia, leveraging the reach and influence of the Saudi Pro League to drive employee engagement, promote career opportunities, and support the third pillar of Vision 2030: a thriving economy built on ambition and participation. The collaboration will also explore joint initiatives across community engagement and national talent development by harnessing the popularity of football to inspire the next generation of professionals in both sport and industry. By aligning Maaden's national presence with the SPL's growing domestic and international footprint, the partnership is set to create meaningful touchpoints with fans, employees, and future talent across Saudi Arabia. Follow all the latest Roshn Saudi League developments on X at @SPLEN, on Instagram at @SPL_EN, and on TikTok @spl or visit the website for more information and updates. About the Saudi Pro League The Saudi Pro League (SPL) is the governing body of Saudi Arabia's top-tier football division and the highest-ranked league in Asia, as recognized by the AFC. The SPL aims to create experiences that go beyond the 90 minutes of play, transforming every game week into a memorable event. Through its mission, the SPL focuses on developing the sport, nurturing talent, and blending competition, community, and culture to tell a story that resonates with fans worldwide. In early 2023, the SPL launched a transformation strategy aligned with Saudi Arabia's Vision 2030, aiming to position the league among the world's best. The strategy focuses on nurturing young talent, attracting top international players, improving club governance, and driving competitiveness both on and off the pitch. With a commitment to innovation and excellence, the SPL is shaping a football legacy that extends far beyond the game itself, contributing to the growth of the sport and the nation.
Zawya
22-05-2025
- Business
- Zawya
GIB Capital closes deals in Q1 2025 with a total value exceeding several billion dollars
Among these achievements, the company acted as financial advisor, institutional bookrunner, and joint underwriter for the IPO of Umm Al-Qura, with a total offering size of SR2 billion, which was oversubscribed 241 times. The company also served as joint lead manager and joint bookrunner in the $1.25 billion sukuk issuance for the Saudi Arabian Mining Company (Ma'aden), which was 8 times oversubscribed, receiving strong demand from international investors. As part of its expansion into global debt markets, GIB Capital managed a $1.75 billion sukuk issuance for the Islamic Development Bank (IsDB) as joint lead manager and joint bookrunner, with participation from a wide range of global investors. GIB Capital also acted as joint lead manager and joint bookrunner for a $1 billion sukuk issuance by the Bahrain Petroleum Company (Bapco), which attracted over $4 billion in orders. In another notable transaction, the company served as joint lead manager in the $2 billion sukuk issuance by the Saudi Real Estate Refinance Company (SRC), which was oversubscribed more than six times, with active participation from international investors. These transactions reflect GIB Capital's ability to efficiently execute complex financial operations and reaffirm its role as a key partner in the development of capital markets and in enhancing their appeal to both local and global investors. © Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (
Yahoo
15-05-2025
- Business
- Yahoo
Maaden, MP Materials partner to develop Saudi rare earth supply chain
The Saudi Arabian Mining Company (Maaden) has signed a memorandum of understanding (MOU) with MP Materials, a US rare-earth materials company, to create a fully integrated, end-to-end rare earth supply chain within Saudi Arabia. This includes mining, separation, refining and magnet production, all intended to enhance industrial depth and generate value for downstream sectors. The agreement, signed on the sidelines of the US-Saudi Investment Forum 2025 in Riyadh, reinforces the ongoing economic relationship between Saudi Arabia and the US, highlighting the strategic alignment of both nations in enhancing critical mineral supply chains. In April 2025, Maaden initiated the process of selecting an international company to establish a rare earths processing partnership, aiming to position the kingdom as a critical minerals hub. Maaden CEO Bob Wilt said: 'Through a potential partnership with MP Materials, and our deepening ties with the US, we aim to create a global hub for a fully integrated rare earth value chain supporting advanced manufacturing in the kingdom. 'As we continue to build mining as the third pillar of the Saudi economy, this is an integral step in the exploration and development of minerals that will drive economic and industrial growth for the kingdom.' The agreement marks a step towards advancing and de-risking the development of potential rare earth element (REE) deposits in Saudi Arabia, as the nation aims to position itself as a leading player in the critical minerals sector. With Saudi Arabia's competitive energy base, infrastructure and strategic location, this partnership aims to diversify and expand the global rare earth supply chain in response to increasing demand from rapidly growing industries. MP Materials founder, chairman and CEO James Litinsky said: 'Announcement is an important first step towards rebalancing the global supply chain in a moment of transformational growth fuelled by emerging technologies – especially in robotics and physical AI – while deepening the strategic alliance between the United States and Saudi Arabia.' "Maaden, MP Materials partner to develop Saudi rare earth supply chain" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
