The CEO of the Saudi-US Business Council, Charles Hallab, affirmed that economic relations between Saudi Arabia and the United States are undergoing a qualitative transformation, particularly in the critical metals sector, which is experiencing growing momentum. In statements to the Saudi Press Agency (SPA), he explained that this cooperation is driven by promising investment opportunities and long-term industrial partnerships aimed at localizing value chains and enhancing the resilience of global supply chains.
Strategic context: Mining is a pillar of Vision 2030
This collaboration comes at a time when Saudi Arabia, as part of its Vision 2030, is striving to make the mining sector the third pillar of its national industry, alongside oil, gas, and petrochemicals. The Kingdom possesses vast mineral wealth in the Arabian Shield region, where estimates of untapped mineral resources have recently been raised to over 9 trillion riyals (approximately $2.5 trillion), including essential minerals for the energy transition such as copper, zinc, phosphate, gold, and rare earth elements.
The importance of critical minerals to global security
Hallab pointed out that critical minerals are now more closely linked to global energy security, manufacturing capacity, and the economic resilience of nations. These minerals are of paramount importance due to their pivotal role in future industries such as electric vehicles, renewable energy technologies, batteries, and defense. Therefore, the interest shown by American companies reflects a practical desire to expand partnerships and explore investment opportunities within the Kingdom, including supply arrangements and long-term purchase agreements that support the economic interests of both countries and mitigate the risk of supply disruptions.
Round table outputs
Hallab's remarks followed a high-level roundtable organized by the Saudi-American Business Council in Riyadh to discuss critical minerals and industrial supply chains, as part of the International Mining Conference's "Future of Minerals Forum." The roundtable saw the participation of more than 120 senior officials, decision-makers, and business leaders from both countries. Among the attendees was a high-level US government delegation that included White House Special Assistant to the President David Copley and Assistant Secretary of Energy Audrey Robertson, reflecting Washington's significant political and economic interest in deepening its engagement with this issue.
From words to deeds
The CEO of the Council emphasized that the current priority is "turning words into action" through implementation pathways that enable partners to build secure supply chains. He stated that discussions focused on practical steps, including identifying priority projects across the value chain, stimulating joint investments, and strengthening public-private partnerships (PPPs). These efforts aim to bring stakeholders closer together and translate shared priorities into tangible investments that support the localization of advanced technologies and industries within the Kingdom.
