Saudi Arabia has made a significant discovery of an estimated 114 million tonnes of ore rich in rare earth minerals and uranium deposits at the Jabal Sayid project located in the Madinah region. This revelation was confirmed by Energy Minister Prince Abdulaziz bin Salman, who highlighted the Kingdom’s ongoing efforts to identify uranium resources as part of its national atomic energy program. The exploration aims at harnessing these resources for potential economic benefits.
In a strategic move to bolster its uranium extraction initiatives, Saudi Arabia is collaborating with France’s Orano. This partnership focuses on extracting uranium from phosphoric acid, a byproduct of fertilizer manufacturing. The collaboration follows a memorandum of understanding signed during a visit by the Saudi Crown Prince to France, marking a significant step in international cooperation.
Additionally, Saudi Arabia is enhancing its ties with the United States in the critical minerals sector. A framework agreement has been established, along with a partnership between Saudi mining company Ma’aden and the US-based MP Materials. This collaboration is designed to support the processing of rare earth elements and uranium, further strengthening the Kingdom’s capabilities in the minerals sector.
The development and exploration of these mineral resources are integral to Saudi Arabia’s broader economic strategy. By diversifying its economy and expanding domestic industrial capabilities, the Kingdom aims to elevate its position in global critical-minerals supply chains. This initiative highlights Saudi Arabia’s commitment to becoming a pivotal player in the global minerals market.