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U.S. and Saudi Arabia Launch Rare Earths Refinery Venture

11/20/2025

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Summary

Story summary

MP Materials, the U.S. Department of Defense, and Saudi Arabian Mining Company (Maaden) plan a rare earths refinery in Saudi Arabia.
The joint venture allocates 49% to MP Materials and the Pentagon, 51% to Maaden.
The facility will refine rare earths for military and industrial use in both nations.
Saudi Vision 2030 aims to diversify the economy, leveraging an estimated $2.5 trillion in mineral wealth.

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Story summary

MP Materials, the U.S. Department of Defense, and Saudi Arabian Mining Company (Maaden) plan a rare earths refinery in Saudi Arabia.
The joint venture allocates 49% to MP Materials and the Pentagon, 51% to Maaden.
The facility will refine rare earths for military and industrial use in both nations.
Saudi Vision 2030 aims to diversify the economy, leveraging an estimated $2.5 trillion in mineral wealth.