Grand Mines Signs $9 Billion Deal with Burkhan Global
Deal News | May 20, 2025 | Zawya
Saudi Arabia's Grand Mines Mining Company has entered into a $9 billion Memorandum of Understanding (MOU) with Burkhan World Investment (BWI), based in the United States, to establish a new mining investment and operations company. This development, announced at the Saudi-U.S. Investment Forum in Riyadh, signifies a major collaborative effort to exploit and export critical minerals such as lithium, cobalt, and rare earth elements, which are essential for modern industrial needs, including advanced manufacturing, energy storage, and clean energy infrastructure. Mohammed Aldulaim, Chairman of the National Mining Committee, highlighted that BWI will serve as the general partner while Grand Mines will contribute land, infrastructure, and regulatory avenues within Saudi Arabia. The initiative reflects Saudi Arabia's strategic push towards diversification and strengthening its role in the global supply chain for critical minerals.
Sectors
- Mining
- Energy
Geography
- Saudi Arabia – Grand Mines Mining Company is based in Saudi Arabia, and the new mining firm will be headquartered there.
- United States – Burkhan World Investment, the foreign partner in this venture, is based in the United States.
Industry
- Mining – The article discusses a significant development in the mining industry focused on critical minerals, essential for advanced manufacturing and energy infrastructure.
- Energy – The initiative targets minerals like lithium and cobalt, which are crucial for energy storage and clean energy technologies.
Financials
- 9 billion USD – The value of the Memorandum of Understanding signed between Grand Mines Mining Company and Burkhan World Investment.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Grand Mines Mining Company | Target Company | Company | A Saudi Arabian mining firm involved in the development and facilitation of the new mining venture. |
| Burkhan World Investment (BWI) | Bidding Company | Company | A U.S.-based investment firm acting as the general partner in the new mining initiative. |
| Mohammed Aldulaim | Chairman of the National Mining Committee | Person | Provides commentary on the roles of the partnership between Grand Mines and Burkhan Global. |