Bilateral investment spans multiple sectors; geological collaboration to deepen.
The United States and Saudi Arabia have concluded a $600 billion investment agreement, signed Tuesday in Riyadh by U.S. President Donald Trump and Saudi Crown Prince Mohammed bin Salman. The deal includes commitments from American and Saudi companies to invest in each other’s economies across strategic sectors such as energy infrastructure, healthcare, data centers, and defense.
A key component of the agreement is enhanced cooperation in the mining and mineral resources sector. Under a Memorandum of Cooperation, the two countries are set to collaborate on critical mineral supply chains, including mining and processing, and will explore joint investment opportunities. As part of its Vision 2030 economic diversification plan, Saudi Arabia aims to reduce its reliance on oil revenues by developing its vast, largely untapped mineral reserves estimated by the government to be worth $2.5 trillion. These include valuable resources such as lithium, gold, and rare earth elements.
The agreement, originally announced last week ahead of President Trump’s visit, marks a significant step forward in U.S.-Saudi economic relations, according to the White House. It also aligns with recent U.S. initiatives to secure critical mineral supply chains. Earlier this month, President Trump signed a minerals agreement with Ukraine following prolonged negotiations (we reported).
Photo: Mohamed Hussain Younis via Canva
