Highlights
- UK will establish a strategic critical minerals partnership with Saudi Arabia during Riyadh's Future Minerals Forum.
- The partnership aims to secure supply chains for lithium, cobalt, and manganese, which are crucial for advanced technologies.
- Collaboration expected to attract Saudi investment and boost UK-GCC trade by £8.6 billion annuall.y
The UK is set to sign a critical minerals partnership with Saudi Arabia during the Future Minerals Forum in Riyadh, led by Industry Minister Sarah Jones (opens in a new tab) and a delegation of 16 British companies, including Cornish Lithium (opens in a new tab) and Beowulf Mining (opens in a new tab).
The agreement aims to secure the UK's supply chains for essential minerals like lithium, cobalt, and manganese, which are vital for manufacturing AI technologies, clean energy systems, and advanced products like electric vehicles and wind turbines. This collaboration aligns with the UK government’s forthcoming Industrial Strategy and its goal to become an AI superpower (opens in a new tab).
The partnership also seeks to attract Saudi investment into the UK and strengthen bilateral trade ties. It complements the ongoing negotiations for a free trade agreement with Gulf Cooperation Council nations, which is projected to boost UK-GCC trade by £8.6 billion annually.
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