Saudi Arabia has unveiled a significant discovery of approximately 114 million tonnes of ore rich in rare earth minerals and uranium deposits at the Jabal Sayid project in the Madinah region. This revelation supports the Kingdom’s ongoing efforts to explore its uranium resources as a key component of its national atomic energy programme. The initiative is geared towards assessing the potential economic benefits of these resources, according to Energy Minister Prince Abdulaziz bin Salman.
In a bid to enhance uranium extraction capabilities, Saudi Arabia is collaborating with France’s Orano to explore the recovery of uranium from phosphoric acid, a by-product of fertilizer manufacturing. This partnership was solidified through a memorandum of understanding signed during the Saudi Crown Prince’s recent visit to France. The collaboration marks a significant step in Saudi Arabia’s quest to leverage its mineral resources for economic growth.
Further strengthening its position in the critical minerals sector, Saudi Arabia has extended its cooperation to include the United States. A framework agreement has been established, along with a partnership between Saudi mining giant Ma’aden and US firm MP Materials. This collaboration aims to advance the processing of rare earth elements and uranium, thereby enhancing the Kingdom’s industrial capabilities and its role in the global supply chain for these essential minerals.
The discovery and subsequent development of these mineral resources are integral to Saudi Arabia’s broader strategy to diversify its economy beyond oil. By expanding its domestic industrial capabilities, the Kingdom is positioning itself as a key player in the global critical-minerals market. This strategic move not only aims to boost economic growth but also seeks to secure Saudi Arabia’s standing in the international minerals supply chain.
