Saudi Arabia announces 110 million tonnes of uranium-bearing ore discovery

Saudi Arabia says it has discovered an estimated 110 million tonnes of uranium-bearing ore in the Medina region, as the kingdom seeks to develop nuclear power.

Energy Minister Prince Abdulaziz bin Salman announced the estimate on Monday at the International Atomic Energy Agency’s (IAEA) 70th General Conference in Vienna, saying Saudi Arabia was continuing uranium exploration while also examining the recovery of the metal as a byproduct of fertiliser production.

Arab News cited Abdulaziz as saying geological studies had identified an estimated 110 million tonnes of ore containing high concentrations of rare-earth elements, particularly heavy rare-earth elements, alongside promising concentrations of uranium.

Uranium-bearing ore is rock or mineral material containing naturally occurring uranium. It is not the same as pure uranium, and the quantity of ore alone does not indicate how much uranium could ultimately be extracted.

Factors including uranium concentration, mineral composition, recovery rates and the cost of developing the deposit would need to be assessed to determine whether the resource could support commercial production.

The discovery comes as Saudi Arabia seeks to diversify its energy mix and develop nuclear power alongside its traditional reliance on oil and gas.

In July, the United States and Saudi Arabia reached a civil nuclear cooperation agreement that provides a framework for a decades-long partnership and opens the way for US companies to participate in the kingdom’s nuclear energy programme. The agreement was transmitted to Congress in August for review.

The 30-year nuclear agreement is expected to facilitate the construction of US-designed AP1000 reactors, a project worth tens of billions of dollars that could benefit Westinghouse, which is jointly owned by Canada-based Cameco and Brookfield Asset Management.

The agreement and accompanying documents establish safeguards for US-Saudi nuclear cooperation, but the deal has drawn scrutiny over the level of safeguards and whether Saudi Arabia will be subject to the IAEA’s Additional Protocol, which provides inspectors with expanded access to nuclear sites and information.

The discovery of uranium-bearing ore could add another dimension to Saudi Arabia’s efforts to develop domestic nuclear fuel capabilities, although the amount of recoverable uranium and its commercial viability remain unclear.

(Reuters, The New Arab)