The British government said on Tuesday that Britain will sign a minerals cooperation agreement with Saudi Arabia that could assist to develop supply chains, generate prospects for British companies, and draw investment into the UK.
Britain needs a safe, long-term supply of crucial minerals including copper, lithium and nickel, which are used to create electric cars and smartphones but also essential for the construction of data centres supporting the development of artificial intelligence systems.
Saudi Arabia, which values its unrealized mineral potential at $2.5 trillion, is striving to become a significant worldwide hub for commerce in vital minerals.
The agreement will fit Britain's larger industrial policy, which claims to be essential for national security as well as for its aim to increase economic growth and generate employment. The alliance also coincides with British and Gulf Cooperation Council (GCC) negotiations this week on a free trade pact continuing.