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Canada Signs $1B Saudi Deals on Mining, Clean Energy, AI

7/10/2026

Summary

Story summary

Prime Minister Mark Carney visited Saudi Arabia and signed 13 agreements worth $1 billion on mining, clean energy and artificial intelligence.
Carney said U.S. tariffs on key Canadian exports require diversification of trade, prompting a delegation of Canadian pension funds to invest in Saudi energy and AI projects.
The trip marked the first state visit in over 25 years, reviving ties after Saudi Arabia expelled Canada’s ambassador in 2018 over human-rights criticisms.

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Story summary

Prime Minister Mark Carney visited Saudi Arabia and signed 13 agreements worth $1 billion on mining, clean energy and artificial intelligence.
Carney said U.S. tariffs on key Canadian exports require diversification of trade, prompting a delegation of Canadian pension funds to invest in Saudi energy and AI projects.
The trip marked the first state visit in over 25 years, reviving ties after Saudi Arabia expelled Canada’s ambassador in 2018 over human-rights criticisms.