Saudi Arabia Announces Major Uranium and Rare Earth Discovery

Saudi Arabia has announced the discovery of an estimated 110 million tonnes of ore containing rare earth elements and uranium in the Medina region, a significant find that aligns with the kingdom's efforts to diversify its energy resources. Energy Minister Prince Abdulaziz bin Salman revealed the discovery on Monday, September 14, during the International Atomic Energy Agency's General Conference in Vienna. The ore was identified at the Jabal Sayid project in Medina. Prince Abdulaziz stated the deposit features high concentrations of rare earth minerals, particularly heavy elements, alongside promising uranium indications. The announcement underscores Saudi Arabia's broader strategy to develop its mineral wealth and reduce economic reliance on oil and gas, a key pillar of its Vision 2030 plan. The timing of the disclosure is notable, as it coincides with a US-Saudi civil nuclear cooperation agreement currently under review by the US Congress. The 30-year deal, signed in July, would allow American companies to support Saudi Arabia's civilian nuclear program. The agreement has prompted discussions about nonproliferation safeguards and the potential for uranium enrichment.