110 million tons of uranium ore discovered in Medina

Saudi Arabia has discovered 110 million tons of uranium-concentrated ore, marking one of the most significant discoveries for the kingdom, according to Energy Minister Prince Abdulaziz bin Salman in a statement to the Atomic Energy Agency general conference in Vienna on Tuesday.

The ore was discovered in the Medina region which contains Islam’s second holiest site – the Prophet’s Mosque in the kingdom which is considered the biggest economy in the Arab world.

Saudi Arabia continues to diversify its investments in energy and mineral resources; with the uranium find proving especially auspicious with the kingdom having signed a deal with the U.S. for a civilian nuclear program in late July.

The deal was described by both sides as a “decades-long, multibillion-dollar partnership”;

“These agreements reflect our two nations’ shared commitment to strengthening US-Saudi commercial relations, delivering prosperity at home and security to our allies abroad,” US Energy Secretary Chris Wright said in a statement.

The deal comes as the fruit of years of nuclear negotiations between the U.S. and Saudi Arabia which would see the U.S. supporting a nuclear-powered Saudi in exchange for major contracts at Saudi nuclear energy sites;

One study measured the possibility of the U.S. building a uranium enrichment plant in the county, according to the Wall Street Journal.

The two countries signed a co-operation framework followed by a partnership between Saudi Arabia’s Ma’aden and the US-based MP Materials to develop capabilities for processing and separating rare earth minerals and producing associated uranium.

“Subsequently, the kingdom is continuing its efforts through the sedimentary cover survey initiative to explore for additional uranium ore from conventional sources,” Prince Abdulaziz said.