UK to sign crucial minerals partnership with Saudi Arabia

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14-01-2025 | 00:46
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UK to sign crucial minerals partnership with Saudi Arabia
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UK to sign crucial minerals partnership with Saudi Arabia

Britain will sign a minerals cooperation partnership with Saudi Arabia that could help strengthen supply chains, create opportunities for British businesses and attract investment into the UK, the British government said on Tuesday.

Britain needs a secure, long-term supply of critical minerals, such as copper, lithium and nickel, which are used to make smartphones and electric cars, but are also vital to build data centers that help develop artificial intelligence systems.

On its part, Saudi Arabia, which estimates the value of its untapped mineral resources at $2.5 trillion, is aiming to become a major global hub for critical minerals trade.

For Britain, the deal will form part of a broader industrial strategy that it says will be key to both national security and its objective to boost economic growth and create jobs.

The partnership also comes as British and Gulf Cooperation Council (GCC) negotiators continue talks this week about a free trade agreement.

Reuters
 

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