Saudi EXIM Bank and Trafigura Establish SAR3 Billion Insurance Framework for Critical Metals Financing

SPA

Saudi Arabia has taken a further step to strengthen its role in global critical minerals markets as Saudi Export-Import Bank signed a master insurance policy with Trafigura, covering multi-year prepayment transactions with mining companies worldwide.

The agreement, valued at up to SAR 3 billion ($800 million), was signed under the patronage of Minister of Industry and Mineral Resources and Chairman of the Saudi EXIM Bank Board Bandar Alkhorayef. It represents the first policy of its kind focused on critical metals, designed to support long-term supply arrangements and enhance financing certainty across the mining value chain.

The policy was formalized on the sidelines of the Future Minerals Forum 2026, with the signing carried out by Saudi EXIM Bank Chief Executive Saad bin Abdulaziz Alkhalb and Trafigura’s Global Head of Metals, Minerals and Bulks Gonzalo De Olazaval.

Under the agreement, Saudi EXIM Bank will provide insurance coverage for prepayment facilities extended by Trafigura to mining companies. The structure is intended to mitigate cross-border and counterparty risks while supporting sustained access to critical minerals, reinforcing the Kingdom’s integration into global supply chains.

Alkhalb described the agreement as a strategic step toward enabling mining value chains and expanding Saudi Arabia’s presence in critical minerals markets, aligning with the objectives of Saudi Vision 2030. He emphasized that critical minerals have moved beyond their traditional role as industrial inputs to become central components of global energy security and technological transformation.

According to Alkhalb, the evolving role of minerals in energy transition and advanced industries requires more flexible financing structures, specialized insurance tools, and stronger mechanisms to manage international risk exposure. He noted that Saudi EXIM Bank is addressing these needs through a combination of financing, insurance, and supply chain finance solutions tailored to complex cross-border transactions.

The agreement highlights Saudi Arabia’s broader strategy to deploy financial instruments alongside industrial policy, positioning the Kingdom as both a participant and enabler within global critical minerals markets.