Saudi Arabia discovers 100 million uranium-concentrated ore in Madinah region

Saudi Arabia has unearthed a staggering 110 million tonnes of ore enriched with uranium in the Madinah region, marking a major discovery in the global rare earth element market, reported the kingdom's Energy Minister Prince Abdulaziz bin Salman. The significant find was revealed during the exploration and geological studies of the Jabal Sayid project in Madinah, where high concentrations of rare earth elements, including heavy varieties, and promising uranium supplies were discovered.

The announcement of the discovery underscores Saudi Arabia's commitment to diversifying its energy and mineral resources, alongside bolstering investments in the kingdom's mining sector, a move Prince Abdulaziz highlighted during a presentation at the IAEA General Conference in Vienna. The kingdom, the largest economy in the Arab world, continues to forge international partnerships to expand its mining capacities, with the minister emphasizing ongoing efforts in the Sedimentary Cover Survey initiative to unearth more uranium ore from conventional sources.

The discovery aligns with the US-Saudi deal for a civilian nuclear program, signed in July, which aims to forge a long-term, multibillion-dollar partnership between the two nations. US Energy Secretary Chris Wright expressed his support for the development, stating the agreement reflects a shared commitment to enhancing commercial relations and ensuring security for allies.

The deal also allows American companies to vie for major contracts at Saudi nuclear energy sites, with a potential study paving the way for US firms to build a uranium enrichment plant in Saudi Arabia, as reported by the Wall Street Journal.

The kingdom's economic diversification agenda remains a priority, with Prince Abdulaziz acknowledging the strategic importance of the ongoing investments in the mining sector, which were further solidified during Saudi Crown Prince Mohammed bin Salman's visit to the US in November.