Saudi EXIM Bank has signed a first-of-its-kind critical metals master insurance policy with Trafigura, valued at up to $800 million (SAR 3 billion).
The agreement is designed to support multi-year prepayment transactions with mining companies worldwide, reinforcing Saudi EXIM’s role in enhancing global trade and financing for the mining sector.
The policy was signed by the Saudi EXIM Bank Chief Executive, Eng. Saad bin Abdulaziz Alkhalb and Trafigura Global Head of Metals, Minerals & Bulks Commodities Gonzalo De Olazaval on the sidelines of the Future Minerals Forum (FMF) 2026 in Riyadh.
Under the agreement, Saudi EXIM will provide credit insurance for prepayment facilities provided by Trafigura to mining companies. The first transaction to be covered under this policy is a copper prepayment facility to a global metals producer, the first financing of this type to be backed by credit insurance from an Export Credit Agency.
The collaboration between Saudi EXIM and Trafigura enables the Kingdom of Saudi Arabia’s sustained access to critical metals and minerals and strengthens its role in global supply chains.
Eng. Alkhalb said that 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.
Saudi EXIM Bank Chief Executive further 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.
This latest agreement builds on Trafigura’s existing strong relationship with Saudi EXIM, with the signing of a $500 million credit facility in 2023, which was subsequently upsized to $700 million in 2025.
