In a significant development, Saudi Arabia has revealed a substantial find of approximately 114 million tonnes of ore rich in rare earth minerals and uranium at the Jabal Sayid site located in the Madinah region. According to Energy Minister Prince Abdulaziz bin Salman, this discovery is part of the Kingdom’s ongoing efforts to explore uranium resources, aligning with its national atomic energy programme. The focus is on assessing these materials’ economic potential, which could play a crucial role in the country’s energy strategy.
The strategic move extends beyond national borders, as Saudi Arabia collaborates with France’s Orano to investigate the extraction of uranium from phosphoric acid, a byproduct of fertilizer production. This initiative follows a memorandum of understanding established during the Saudi Crown Prince’s recent visit to France, highlighting the Kingdom’s commitment to expanding its capabilities in critical mineral extraction.
Further supporting these ambitions, Saudi Arabia has also forged a partnership with the United States in the critical minerals sector. A framework agreement has been signed, and a collaboration between Saudi mining giant Ma’aden and the US-based MP Materials is underway. This partnership is aimed at advancing the processing of rare earth elements and uranium, marking a significant step in strengthening bilateral cooperation in this essential industry.
The discovery and subsequent initiatives are part of Saudi Arabia’s broader economic diversification strategy. By tapping into its rich mineral resources, the Kingdom aims to enhance its domestic industrial capabilities and solidify its position within the global supply chains for critical minerals. This approach not only seeks to reduce reliance on oil but also to establish Saudi Arabia as a key player in the international arena of critical mineral supply.