audi Export-Import Bank (Saudi EXIM) has signed a first-of-its kind critical metals master insurance policy with Trafigura Group, 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 SAR3bn ($800m).
Saudi EXIM said in a statement that under the agreement, it 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 ensures Saudi Arabia’s sustained access to critical metals and minerals and strengthens its role in global supply chains. This latest agreement builds on Trafigura’s existing strong relationship with Saudi EXIM, with the signing of a $500m credit facility in 2023, which was subsequently upsized to $700m in 2025.
Saudi EXIM CEO, Eng. Saad AlKhalb, said, “This agreement further enables mining value chains and strengthens the Kingdom’s presence in critical minerals markets, in line with the objectives and programmes 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.”