May 15, 2025: The US and Saudi Arabia have agreed plans to cooperate on an expansion of energy storage projects and critical minerals supplies.
US energy secretary Chris Wright has signed a memorandum of understanding on energy cooperation and a memorandum of cooperation on critical minerals with Saudi energy minister prince Abdulaziz bin Salman Al Saud and the industry and mineral resources minister Bandar Alkhorayef.
The MOU for energy cooperation is designed to consider the potential for innovation, development, deployment of energy infrastructure in the two countries.
Under the agreement, both sides aim to collaborate in various fields including electricity generation technologies and energy storage systems.
On critical minerals, the US said the agreement will create a framework for cooperation to strengthen and secure supply chains for critical minerals mining and processing.
The two intend to consider joint ventures and investment opportunities in relation to mineral exploration, extraction, and processing.
The signings coincided with a tour of the region by the US president, Donald Trump.
The US announced last month that it was on course to include foreign battery material producers in a new round of tariffs following the launch of a critical minerals probe — amid claims that the country was being exploited by overseas supply chain dominance.