RIYADH: Saudi Arabia has discovered 110 million tonnes of raw materials containing uranium concentrations in Madinah, the Kingdom’s energy minister said at the IAEA General Conference in Vienna, Saudi state TV reported on Monday.
The discovery in the Madinah region comes as Saudi Arabia pushes to boost investments in its energy and mining sectors, Prince Abdulaziz told the International Atomic Energy Agency general conference in Vienna.
“The exploration and geological studies at the Jabal Sayid project in the Madinah region have revealed … ore containing high concentrations of rare earth elements, particularly the heavy rare earth elements alongside promising concentrations of uranium,” said Prince Abdulaziz, who took to the additional charge of Minister of Industry and Mineral Resources in July. “This positions the project among the most significant rare earth mineral resource sites currently under development globally.”
The kingdom, the biggest Arab economy, has also continued to invest in diversifying its energy and mineral resources. It is building capacities within the kingdom, as well as through effective international partnerships, he was quoted as saying by Al Arabiya TV.
The discovery of natural ore with a concentration of uranium is significant, as it follows a US-Saudi deal for a civilian nuclear programme in the kingdom. The countries in July signed the pact alongside a bilateral protection agreement, which lays the foundation for a “decades-long, multibillion-dollar partnership”.
