Saudi Arabia and the European Union: A strategic partnership in critical minerals
The Saudi capital, Riyadh, witnessed a significant economic event: the Saudi-European Business and Investment Dialogue, which focused primarily on developing critical metals value chains. This important meeting, held on the sidelines of the Future Metals Forum, brought together leading policymakers, industry leaders, and investors from both sides, with the aim of establishing a long-term strategic partnership between Saudi Arabia and the European Union.
The importance of timing and global context
This dialogue comes at a time when the global economy is undergoing radical transformations toward clean energy and digitalization, with critical minerals (such as lithium, copper, and rare earth elements) being dubbed the “oil of the 21st century.” This partnership is of paramount importance in the global race to secure reliable and sustainable supply chains for these resources, free from traditional monopolies, making cooperation between Riyadh and Brussels a vital step toward achieving economic and industrial security for both parties.
Details of the dialogue and institutional partnership
This high-profile event was organized within the framework of the Team Europe approach, implemented by the EU-Gulf Cooperation Council Green Transition Project, in direct coordination with the EU Delegation to the Kingdom, the European Chamber of Commerce in Saudi Arabia, and in close collaboration with the Future Minerals Forum. The platform provided an opportunity to showcase recent European measures, specifically the EU Critical Minerals Regulation (CRMA) and the ResourceEU initiative.
Convergence of Visions: Saudi Arabia 2030 and the Green Deal
This dialogue brought together European aspirations with the objectives of Saudi Vision 2030, which positions the mining sector as the third pillar of national industry. Participants discussed ways to build flexible and diversified supply chains covering all stages, from exploration and mining through processing and refining, to manufacturing and recycling. This alignment supports the Kingdom's ambitions to become a regional and global hub for mineral processing, leveraging its strategic geographic location and advanced infrastructure.
Officials' statements: A shared commitment
The EU Ambassador, Christophe Farnoux, emphasized the pivotal role of Saudi Arabia, stating, “As the EU progresses in implementing its critical minerals policy, international cooperation becomes indispensable for building secure, diversified, and sustainable value chains, and Saudi Arabia is a key partner in this endeavor.” He noted that the dialogue reflects a commitment to translating political convergence into concrete projects.
For his part, Valère Mutallier, Deputy Director-General for Industrial Decarbonization at the European Commission, explained that the Critical Minerals Act provides a framework for enhancing Europe’s resilience through international partnerships, adding: “Cooperation with Saudi Arabia is essential for developing secure, sustainable and diversified value chains for critical minerals.”.
Saudi side: Attracting quality investments
In a related context, Turki Al-Babtain, Deputy Minister of Industry and Mineral Resources for Mining Affairs in the Kingdom, affirmed that developing globally competitive mining centers is a fundamental pillar of industrial transformation. Al-Babtain stated, “Our engagement with the European Union aims to enhance integration in the upstream and downstream stages of the value chain, attract high-quality investments, and promote responsible mining and processing practices.” He noted that leveraging the dynamics of European demand will generate long-term added value for the national economy.
