Saudi Arabia finds 114M tons of rare earths, uranium: What to know

Saudi Arabia has found an estimated 114 million tons of ore containing rare earth elements and uranium, a discovery that could help the kingdom become a major mining and minerals hub as the United States and China compete for control of critical mineral supply chains.

Saudi Energy Minister Prince Abdulaziz bin Salman announced the discovery Monday at the International Atomic Energy Agency’s General Conference in Vienna, saying exploration and geological studies at the Jabal Sayid project in the Medina region had identified the resource. The project is an existing copper mine operated by Saudi Arabian Mining Co., or Maaden, and Barrick Mining. The minister did not specify when the resource was first identified.

He said the ore contains “high concentrations of rare earth elements, particularly heavy rare earth elements, alongside promising concentrations of uranium.” 

Saudi Arabia’s critical minerals push