Saudi Arabia has revealed a significant discovery at the Jabal Sayid project in the Madinah region, uncovering an estimated 114 million tonnes of ore rich in rare earth minerals, alongside promising uranium deposits. This discovery is a key element of the Kingdom’s ongoing efforts to tap into uranium resources under its national atomic energy program, which aims to evaluate their potential for economic applications, as stated by Energy Minister Prince Abdulaziz bin Salman.
In line with its strategic goals, Saudi Arabia has entered into a partnership with France’s Orano, focusing on the extraction of uranium from phosphoric acid, a byproduct of fertilizer manufacturing. This collaboration was formalized through a memorandum of understanding signed during a visit by the Saudi Crown Prince to France, highlighting the Kingdom’s commitment to advancing its capabilities in this sector.
Additionally, Saudi Arabia is enhancing its collaboration with the United States, particularly in the critical minerals sector. A framework agreement has been established, fostering a partnership between the Saudi mining company Ma’aden and the US-based firm MP Materials. This alliance aims to bolster the processing of rare earth elements and uranium, further integrating Saudi Arabia into the global supply chain for these crucial resources.
The initiative to harness these mineral resources is a cornerstone of Saudi Arabia’s broader economic diversification strategy. The Kingdom is keen on expanding its domestic industrial capabilities and solidifying its position in the global supply chains of critical minerals. This multi-faceted approach not only supports its economic goals but also underscores its ambition to play a pivotal role in the international arena of critical mineral resources.