Under the patronage of the Minister of Industry and Mineral Resources and Chairman of Saudi Export-Import Bank (Saudi EXIM Bank), Bandar bin Ibrahim Alkhorayef, Saudi EXIM has signed a first-of-its kind critical metals master insurance policy with Trafigura Group Pte Ltd. ("Trafigura"), a market leader in the global commodities industry, to support multi-year prepayment transactions with mining companies worldwide, with an expected value of up to SAR 3 billion (USD 800 million).
The agreement was signed by H.E. Eng. Saad bin Abdulaziz AlKhalb and Gonzalo De Olazaval, Global Head of Metals, Minerals & Bulks Commodities at Trafigura, on the sidelines of the Future Minerals Forum (FMF) 2026 in Riyadh.
Under the agreement, Saudi EXIM will provide master credit insurance for prepayment facilities provided by Trafigura to mining companies.
The policy fortifies the resilience of the Saudi market, ensure sustained access to critical minerals, and reinforce the Kingdom's integration within global supply chains.
H.E. Eng. Saad AlKhalb stated, “This agreement further enables mining value chains and strengthens the Kingdom's presence in critical minerals markets, in line with the objectives and programs of Vision 2030. Today, minerals are not merely industrial inputs; they are strategic components of energy security and industrial and technological transformation across the globe. This reality demands more flexible financing instruments and sounder capabilities to manage cross-border risks—a role fulfilled by Saudi EXIM Bank through its financing, insurance, and supply chain financing solutions."
Mr. De Olazaval added, “We are pleased to have signed this landmark agreement with Saudi EXIM. Its innovative financing structure – with our first deal already completed – demonstrates how Export Credit Agencies and commodity trading companies can work together to support the development of critical metals and minerals supply chains."
