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Saudi Arabia and Russia to collaborate on rare metals industry, says minister

During St. Petersburg International Economic Forum, Saudi Arabia's Minister of Industry and Mineral Resources, Bandar Al-Khorayef, revealed plans for collaboration with Russia in rare metals sector. This partnership seeks to improve processing technologies and respond to increasing global demand for rare metals, essential for high-tech industries.

BRIC Team
BRIC Team
Jun 8, 2026 · 1 min read
Saudi Arabia and Russia to collaborate on rare metals industry, says minister

Key Takeaways

  • Saudi Arabia's Minister of Industry, Bandar Al-Khorayef, emphasized technology's role in rare metals during the St. Petersburg International Economic Forum.
  • The collaboration between Saudi Arabia and Russia aims to enhance processing technologies through research centers and universities.
  • Both nations are focusing on sustainable economic projects to adapt to changing market dynamics in the rare metals sector.
  • The partnership reflects a growing interest in rare metals, crucial for high-tech industries amid rising global demand.
  • Al-Khorayef stated, 'We are working with different countries. Of course, Russia is one of these countries.'

Saudi Arabia set to team up with Russia in rare metals sector, says Minister Bandar Al-Khorayef. His comments came after St. Petersburg International Economic Forum, where he stressed tech's role in industry . "The challenge is not just the resource; it's really the technology," he said. Focus split.

Al-Khorayef said Saudi Arabia boosting capabilities Aim: develop better processing tech . "We're working with different countries. Of course,Russia's one," he noted. A broader international strategy at play.

Both countries eyeing sustainable economic projects to match current market shifts . Collaboration shows rising interest in rare metals,crucial for high-tech industries. As global demand rises,Saudi-Russia partnership might shape rare metals market's future…

#Business & Economy

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