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 announcement is a pivotal part of the Kingdom’s national atomic energy program, with Energy Minister Prince Abdulaziz bin Salman highlighting their active efforts to explore these uranium resources for potential economic benefits.
The Kingdom is taking strides to diversify its economic base and bolster its role in the global supply chain for critical minerals. As part of this strategy, Saudi Arabia has partnered with France’s Orano to investigate the extraction of uranium from phosphoric acid, which is generated as a byproduct during fertilizer manufacturing. This collaboration was initiated following a memorandum of understanding signed during the Saudi Crown Prince’s visit to France.
In addition to its partnership with France, Saudi Arabia is also enhancing its cooperation with the United States in the critical minerals sector. A framework agreement has been established, and a partnership between Saudi mining company Ma’aden and US-based MP Materials aims to advance the processing of rare earth elements and uranium. These collaborations underscore Saudi Arabia’s commitment to expanding its industrial capabilities and integrating more deeply into global mineral supply networks.
The discovery at Jabal Sayid and the subsequent international partnerships underscore Saudi Arabia’s broader economic diversification efforts. By focusing on critical minerals and rare earth elements, the Kingdom seeks to not only expand its domestic industrial capabilities but also to strengthen its strategic position in the global market. These initiatives are aligned with Saudi Arabia’s vision to reduce dependency on oil and foster sustainable economic growth.