Riyadh | BETH

The Saudi Export-Import Bank (Saudi EXIM) has signed its first-ever insurance policy for critical minerals in cooperation with global commodities group Trafigura, with a value of up to SAR 3 billion (USD 800 million), aimed at supporting multi-year prepayment arrangements with mining companies worldwide and enhancing the sustainability of global supply chains.

The agreement was signed under the patronage of the Minister of Industry and Mineral Resources and Chairman of the Saudi Export-Import Bank, Bandar bin Ibrahim Al-Khorayef, on the sidelines of the International Mining Conference 2026 in Riyadh. The policy was signed by Saudi EXIM CEO Eng. Saad bin Abdulaziz Al-Khalb and Trafigura’s Global Head of Metals and Minerals Gonzalo de Olazabal.

Under the agreement, Saudi EXIM will provide insurance coverage for prepayment facilities extended by Trafigura to mining companies, supporting sustainable access to critical minerals and strengthening Saudi Arabia’s integration into global supply chains.

Eng. Al-Khalb stated that the agreement represents a strategic step in enabling mining value chains and reinforcing the Kingdom’s presence in critical minerals markets, in line with the objectives of Saudi Vision 2030. He noted that minerals are no longer merely industrial inputs, but a strategic component of energy security and global industrial and technological transformation, requiring flexible financing and insurance tools and advanced cross-border risk management—roles that Saudi EXIM fulfills through its financing, insurance, and supply chain finance solutions.