Saudi Arabia discovers 110 million tonnes of uranium-concentrated ore in Madinah region

Saudi Arabia has made a significant discovery of 110 million tonnes of ore rich in uranium in the Madinah region, according to Energy Minister Prince Abdulaziz bin Salman. This monumental find, highlighted during a speech at the International Atomic Energy Agency in Vienna, is considered one of the most substantial rare earth mineral resource sites globally.

The exploration at the Jabal Sayid project revealed high concentrations of rare earth elements, alongside promising uranium reserves. This development comes as Saudi Arabia intensifies its efforts to expand investments in both energy and mining sectors. The nation, already the largest economy in the Arab world, continues to diversify its energy and mineral resources, bolstering its capacities both domestically and through robust international collaborations.

The discovery is particularly significant in the context of a recent US-Saudi agreement for a civilian nuclear program, signed in July. This pact, coupled with a bilateral protection agreement, lays the groundwork for a decades-long, multibillion-dollar partnership between the two nations, with a shared commitment to strengthening commercial relations and ensuring security for allies.

The US Energy Secretary, Chris Wright, emphasized the mutual commitment to prosperity and security. Furthermore, the discovery aligns with Saudi Arabia's broader strategy to develop its mining sector, a key component of its economic diversification plan. This commitment was reinforced by a visit by Saudi Crown Prince Mohammed bin Salman to the US in November last year, which led to the signing of a cooperation framework for minerals and supply chains, and a partnership between Saudi Arabia’s Ma'aden and US-based MP Materials to enhance processing and uranium production capabilities.