Riyadh: Under the patronage of Minister of Industry and Mineral Resources and Saudi Export-Import Bank (Saudi EXIM) Board Chairman Bandar Alkhorayef, Saudi EXIM Bank signed a first-of-its-kind critical metals master insurance policy with Trafigura to support multi-year prepayment transactions with mining companies worldwide, with a value of up to SAR3 billion ($800 million).
According to Saudi Press Agency, the policy was signed by Saudi EXIM Bank Chief Executive Eng. Saad bin Abdulaziz Alkhalb and Trafigura Global Head of Metals, Minerals and Bulks Commodities Gonzalo De Olazaval on the sidelines of the Future Minerals Forum (FMF) 2026 in Riyadh.
Under the agreement, Saudi EXIM Bank will provide insurance coverage for prepayment facilities extended by Trafigura to mining companies. The policy will help ensure sustained access to critical minerals and further integrate the Kingdom into global supply chains.
Eng. Alkhalb said the agreement is an important step in enabling mining value chains and strengthening the Kingdom's presence in critical minerals markets, in line with the objectives and programs of Saudi Vision 2030.
He added that minerals today are not merely industrial inputs but strategic components of global energy security and industrial and technological transformation, which require more flexible financing and insurance tools and stronger capabilities to manage cross-border risks, a role fulfilled by Saudi EXIM Bank through its financing, insurance, and supply chain financing solutions.