JEDDAH: Saudi Arabia and the US explored cooperation in sectors including lithium, aerospace, and supply chain resilience during a high-level visit led by the Kingdom’s minister of industry and mineral resources.
Bandar Alkhorayef concluded a four-day trip aimed at strengthening bilateral economic and industrial ties, the Saudi Press Agency reported.
The discussions also covered energy innovation, mining, critical minerals, advanced manufacturing, specialty chemicals, food processing, medical devices, smart city technologies, and electric vehicle production.
The government and private sector talks focused on advancing strategic partnerships in line with Saudi Arabia’s National Industrial Strategy, Comprehensive Strategy for Mining and Metals Industries, and Vision 2030 objectives.
“I concluded my visit to the US, which included meetings with government officials, leaders of major companies, and heads of academic and research institutions to strengthen cooperation in industry, mining, and technology, facilitate knowledge transfer, and build strategic partnerships supporting our national objectives,” Alkhorayef said in a post on his X account.
During the visit, Alkhorayef met senior US government officials, including Energy Secretary Chris Wright and North Carolina Secretary of Commerce Lee Lilley.
The minister highlighted Saudi investment opportunities in technology, artificial intelligence, and innovative industries during meetings with investors in North Carolina, which were held in coordination with the US Chamber of Commerce.
Alkhorayef engaged with executives from major American firms, including General Mills, Lilac Solutions, and RTX. He also met representatives from International Flavors and Fragrances, Guardian Industries, Abbott, Skytower Global Investments, MP Materials, and Albemarle.
Talks focused on joint investment, mining collaboration, technology transfer, and localizing advanced industries in the Kingdom.
“This visit reaffirms the ministry’s commitment to building global partnerships, attracting high-quality investments, and diversifying the Saudi economy in alignment with Vision 2030,” SPA reported, adding that the engagements are expected to boost knowledge transfer, foster sustainable growth, and expand bilateral trade and investment.
Alkhorayef also visited Albemarle Corp.’s Kings Mountain lithium mine in North Carolina, a key site in North America’s critical minerals strategy with planned output sufficient to power 1.2 million electric vehicles annually by 2030. He discussed technology transfer, joint ventures, and expertise exchange in lithium extraction and processing with Albemarle Chairman and CEO Kent Masters.
“During my visit to Albemarle, a global leader in lithium production, I learned about their expertise in this strategic resource and met with their leadership to enhance cooperation, transfer knowledge, and build strategic partnerships that strengthen the Kingdom’s position in this vital mineral, which forms the cornerstone of the clean energy future,” Alkhorayef wrote in a separate post.
The minister met Honeywell Chairman and CEO Vimal Kapur on Aug. 29 to discuss expanding cooperation in advanced manufacturing, industrial automation, and smart city development.
The talks emphasized applying global best practices in digital industrial infrastructure and the role of smart technologies in modernizing the Saudi industry.
The meeting also examined joint investment in smart industrial solutions, advanced automation systems, and Internet of Things networks. It provided insights into Saudi Arabia’s Future Factories Program, which aims to transform 4,000 facilities through automation and Fourth Industrial Revolution technologies to boost efficiency and reduce costs.
Alkhorayef toured Honeywell’s technology exhibition, reviewing innovations in smart city systems, digital industrial solutions, and products deployed across more than 80 markets.
With the Kingdom looking to become a leading player in the global lithium market by 2027, the country is investing in new extraction technologies and accelerating plans to localize EV production and renewable energy supply chains.
Lithium is central to the Kingdom’s goal of producing 300,000 EVs annually by 2030. In 2024, it achieved a milestone by extracting lithium from brine water in oil fields, a breakthrough sustainable source.
Alkhorayef’s US visit centered on building strategic partnerships to transfer technologies for mineral extraction and processing. Meetings with leading lithium producers and US officials, including Wright, followed a memorandum of cooperation on critical minerals signed in May.
