The UK has announced a significant critical minerals partnership with Saudi Arabia. The agreement, to be signed at the Future Minerals Forum in Riyadh, aims to secure access to essential resources for artificial intelligence, clean energy, and advanced manufacturing said the UK government on Tuesday, January 14.

UK Industry Minister Sarah Jones will lead a trade mission of 16 UK critical minerals companies to the forum, marking the most significant critical minerals event in the Middle East and North Africa region.

Critical minerals, including elements like lithium, copper, and nickel, are crucial components in a wide range of products, from smartphones and laptops to electric vehicles and wind turbines. They are also essential for the development of cutting-edge technologies like AI, requiring them for data centers, semiconductor chips, and other vital components.

The partnership with Saudi Arabia, a nation rich in untapped mineral resources estimated at $2.5 trillion, is a strategic move to ensure the UK has a reliable supply of these essential materials.

The agreement will establish secure and diversified sources of critical minerals, reducing reliance on single suppliers and mitigating potential disruptions. By signing the agreement, UK’s critical minerals sector will attract Saudi investment opportunities that will foster growth and innovation within the domestic industry.

The deal will create new opportunities for UK companies to export their expertise in mining, processing, and related technologies to Saudi Arabia.

The agreement also coincides with ongoing trade negotiations between the UK and the Gulf Cooperation Council (GCC). A successful free trade agreement with the GCC, including Saudi Arabia, could further boost bilateral trade by an estimated 16%, adding £8.6 billion annually in the long run.

Minister Jones emphasized the growing importance of critical minerals in the global economy, particularly for emerging technologies like AI and clean energy. "Critical minerals are increasingly vital to our economy, as we turbocharge AI, clean energy and new technologies," she stated. "In the global race for economic growth, and in an increasingly uncertain world, the UK must secure supplies of these critical minerals."

The partnership underscores the UK government's commitment to developing a robust Critical Minerals Strategy, slated for launch in 2025. This strategy will prioritize international collaboration to strengthen supply chains, enhance national security, and stimulate economic growth through job creation and new opportunities.

The partnership aligns with the UK's broader Industrial Strategy, also due to be published this year, which identifies key growth sectors like advanced manufacturing and clean energy as dependent on a stable supply of critical minerals. By securing access to these resources, the government aims to support these sectors and drive economic growth.

The companies participating in the agreement are:

•             Beowulf

•             Cornish Lithium

•             Cornish Metals

•             Cornwall Mining Alliance

•             Dendra

•             Deswick

•             Edge

•             Gravity Mining

•             GSA Environmental

•             Headland Archaeology

•             Next Generation SCM

•             Project Blue

•             Sensoteq

•             SFA Oxford

•             UMS Group

•             Westcountry Minerals