Saudi Arabia has uncovered a significant resource of approximately 114 million tonnes of ore with high concentrations of rare earth minerals and uranium at the Jabal Sayid project in the Madinah region. This discovery is part of a broader initiative by the Kingdom, led by Energy Minister Prince Abdulaziz bin Salman, to explore uranium resources under its national atomic energy program. The focus is on the potential economic benefits these resources could bring.
The Kingdom is also collaborating with France’s Orano to investigate the extraction of uranium from phosphoric acid, which is a by-product of fertilizer production. This collaboration stems from a memorandum of understanding that was signed during the Saudi Crown Prince’s recent visit to France. The move signifies Saudi Arabia’s commitment to advancing its capabilities in extracting valuable minerals through international partnerships.
In a parallel effort, Saudi Arabia is enhancing its cooperation with the United States in the critical minerals sector. A framework agreement has been established, alongside a partnership between Saudi mining company Ma’aden and the US-based MP Materials. This collaboration aims to bolster the processing of rare earth elements and uranium, further integrating Saudi Arabia into the global supply chains of critical minerals.
These initiatives are a crucial part of Saudi Arabia’s strategy to diversify its economy and expand its domestic industrial capacities. By tapping into these valuable mineral resources, the Kingdom aims to fortify its role in the global market for critical minerals, thereby enhancing its economic resilience and global standing.
