Saudi Finds Large Uranium Ore Deposit Amid Energy Diversification Push
What Happened
Saudi Arabia announced the discovery of around 110 million tonnes of ore containing uranium concentrations in the Medina (Madinah) region. The announcement was made by Prince Abdulaziz bin Salman, the kingdom’s energy minister, at the IAEA General Conference in Vienna. The discovery is linked to the Jabal Sayid mineral belt and forms part of Saudi Arabia’s broader effort to develop its mining sector and civilian nuclear energy programme.
Key Takeaways
The find could strengthen Saudi Arabia’s long-term plans to diversify its economy and energy mix under Vision 2030. However, authorities have not disclosed the grade of the uranium ore, meaning the amount of economically recoverable uranium remains unclear. The discovery comes as the kingdom expands its civilian nuclear energy ambitions and seeks to reduce dependence on oil revenues.