Saudi EXIM signs insurance policy for critical minerals with Trafigura

The Saudi Export-Import Bank (Saudi EXIM) signed a master insurance policy for critical minerals with Trafigura Group, aimed at facilitating multi-year prepayments to mining companies worldwide, with a value of up to SAR 3 billion ($800 million).

Under the agreement, Saudi EXIM will provide insurance coverage for prepayment facilities offered by Trafigura to mining companies. 

The policy will contribute to ensuring sustainable access to critical minerals and increasing the Kingdom's integration into global supply chains.

“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," said Saad AlKhalb, CEO of Saudi EXIM. 

"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,” he noted.