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SAUDI FIRM, BURKHAN GLOBAL SIGN $9BLN DEAL TO DEVELOP CRITICAL MINERALS
Saudi Arabia’s Grand Mines Mining Company has signed a $9 billion Memorandum of Understanding with U.S.-based Burkhan World Investment (BWI) to develop and launch a new mining investment and operations company headquartered in Saudi Arabia.
The MOU was signed during the Saudi-U.S. Investment Forum in Riyadh.
Chairman of the National Mining Committee, Mohammed Aldulaim told Aleqtisadiya that Burkhan Global will act as general partner in the venture, while Grand Mines Mining will provide land, infrastructure, regulatory facilitation, and permitting support within Saudi Arabia.
BWI said the initiative will focus on the exploration, development, processing, and export of critical minerals—including lithium, cobalt, and rare earth elements—vital to advanced manufacturing, energy storage, and clean energy infrastructure.