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 enriched with uranium, a rare earth element, in the Madinah region according to Energy Minister Prince Abdulaziz bin Salman. The announcement was made during a presentation at the International Atomic Energy Agency general conference in Vienna. Prince Abdulaziz highlighted the high concentration of rare earth elements, especially heavy rare earth elements, and promising levels of uranium within the ore discovered at the Jabal Sayid project.

This finding positions the project among the most significant global rare earth mineral resource sites currently under development. The kingdom, being the largest economy in the Arab region, is actively diversifying its energy and mineral resources by investing both domestically and through international partnerships. The discovery aligns with a recent US-Saudi agreement to establish a civilian nuclear program in the kingdom, which was signed alongside a bilateral protection pact.

This partnership aims to build a long-term, multibillion-dollar relationship and provide security to allies. US Energy Secretary Chris Wright highlighted the importance of the discovery in the context of the ongoing negotiations between the US and Saudi Arabia for a nuclear cooperation deal. This deal would grant Saudi Arabia access to US technology and enable American firms to bid for major contracts at Saudi nuclear energy sites, potentially involving the construction of a uranium enrichment plant.

Economic diversification is a key focus for Saudi Arabia, and the investment in the mining sector has been reinforced by Crown Prince Mohammed bin Salman's visit to the US last November. The two countries also signed a minerals cooperation framework and a partnership between Saudi Arabia's Ma'aden and US-based MP Materials to develop processing and separating capabilities for rare earth minerals and uranium production.