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, situated in the Madinah region. This announcement was made by the Kingdom’s Energy Minister, Prince Abdulaziz bin Salman, who emphasized Saudi Arabia’s commitment to exploring uranium resources as part of its national atomic energy program. The focus is on harnessing these resources for their potential economic benefits.
In alignment with this strategic pursuit, Saudi Arabia is collaborating with France’s Orano to investigate the extraction of uranium from phosphoric acid, a byproduct of fertilizer production. This cooperation was initiated following a memorandum of understanding signed during the Saudi Crown Prince’s visit to France, highlighting the Kingdom’s proactive approach to international partnerships in resource exploration.
Further emphasizing its global outreach, Saudi Arabia has also bolstered its cooperation with the United States in the critical minerals sector. A framework agreement has been established, alongside a collaboration between Saudi mining giant Ma’aden and US-based MP Materials. This partnership is set to enhance the processing capabilities of rare earth elements and uranium, reinforcing Saudi Arabia’s role in the global supply chain of critical minerals.
These developments are integral to Saudi Arabia’s comprehensive strategy aimed at diversifying its economy and expanding its industrial capabilities domestically. By tapping into its vast mineral resources, the Kingdom seeks to strengthen its position in the international market for critical minerals, ensuring a sustainable and strategic expansion of its economic footprint.
