MP Materials Corp. (NYSE: MP) saw its stock soar 6.55% in Wednesday's pre-market trading following the announcement of a significant partnership with the Saudi Arabian Mining Company (Ma'aden). The collaboration aims to establish a fully integrated rare earth supply chain in Saudi Arabia, marking a major step forward for the company's global expansion and market positioning.

The partnership, unveiled during the U.S.-Saudi Investment Forum 2025 in Riyadh, encompasses the entire value chain of rare earth elements, including mining, separation, refining, and magnet production. This vertically integrated approach is expected to leverage Saudi Arabia's strategic advantages to diversify and expand the global rare earth supply chain, addressing the growing demand in crucial industries such as transportation, energy, robotics, and aerospace.

MP Materials CEO James Litinsky highlighted the significance of the deal, stating, "It is an important first step towards rebalancing the global supply chain in a moment of transformational growth fueled by emerging technologies—especially in robotics and physical AI." The collaboration not only opens up new opportunities in the Middle East but also reinforces economic ties between Saudi Arabia and the United States. As rare earth elements continue to play a critical role in various high-tech and green energy applications, this partnership positions MP Materials to capitalize on the increasing global demand for these vital resources.