MP Materials, Saudi Arabia’s Maaden Partner to Develop Integrated Rare Earth Supply Chain

MP Materials Corp. (NYSE:MP) is one of the best-performing NYSE stocks to buy now. Earlier in mid-May, the Saudi Arabian Mining Company (Maaden) and MP Materials signed a Memorandum of Understanding to explore the establishment of a fully integrated and end-to-end rare earth supply chain within Saudi Arabia.

The agreement was signed during the US-Saudi Investment Forum 2025 in Riyadh. The proposed partnership aims to cover the entire rare earth value chain. By using Saudi Arabia’s competitive energy base, world-class infrastructure, and strategic location, the collaboration seeks to diversify and expand the global rare earth supply chain.

Heavy machinery at work in a mining facility, excavating the earth for rare earth minerals.

The agreement follows Maaden’s initiative in April 2025 to select an international company for a rare earths processing partnership to position Saudi Arabia as a critical minerals hub. Maaden operates 17 mines and sites, exports products to 55 countries globally, and employs over 7,000 people.

MP Materials Corp. (NYSE:MP) produces rare earth materials in the Western Hemisphere. The company operates in 2 segments: Materials and Magnetics.

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Disclosure: None. This article is originally published at Insider Monkey.