Saudi Arabia has discovered 110 million tonnes of uranium-bearing ore, according to Energy Minister Prince Abdulaziz bin Salman. The find, primarily in the Medina region, could support the Kingdom's burgeoning nuclear power ambitions and diversify its economy beyond oil and phosphate exports. However, the actual amount of recoverable uranium remains uncertain.
The discovery of significant uranium-bearing ore could support Saudi Arabia's strategic goal of developing nuclear power, potentially reducing its reliance on fossil fuels for domestic energy and diversifying its economy. However, the actual economic viability of extracting the uranium remains uncertain, and the find is part of a broader effort to leverage mineral resources.
Saudi Arabia announced on Monday the discovery of 110 million tonnes of uranium-bearing ore, a significant find that could bolster its plans to develop nuclear power and diversify its economy. Energy Minister Prince Abdulaziz bin Salman made the announcement at the International Atomic Energy Agency’s General Conference in Vienna.
Geological studies have pinpointed elevated uranium concentrations in the Medina region. Additionally, Saudi Arabia is evaluating the potential for recovering uranium as a byproduct of its extensive phosphate industry. However, officials caution that the 110 million tonnes of uranium-bearing material does not equate to that amount of recoverable uranium. The actual yield will depend on factors such as ore grade, geology, and the economics of extraction, with the IAEA noting that identified occurrences do not automatically imply commercially viable resources.
The discovery gains importance as Saudi Arabia progresses with its nuclear energy strategy. In July, the Kingdom and the United States finalized a civil nuclear cooperation agreement, establishing a framework for U.S. companies to provide nuclear technology and equipment. This agreement is described by the U.S. Department of Energy as the foundation for a long-term, multi-billion-dollar partnership.
Currently, Saudi Arabia does not produce any uranium and lacks a domestic uranium enrichment industry, according to the OECD Nuclear Energy Agency and IAEA. Prince Abdulaziz emphasized that the Kingdom's nuclear program is solely for peaceful purposes and will be conducted transparently with the IAEA.
This development also underscores Saudi Arabia's broader strategy to leverage its mineral wealth as an economic pillar. The nation is already a major exporter of phosphate fertilizers and is actively pursuing opportunities in critical minerals and rare earths. Developing domestic uranium resources could further support its ambition to fuel its own nuclear reactors with local materials.