Vienna, September 14 (QNA) - Saudi Minister of Energy Prince Abdulaziz bin Salman announced Monday the discovery of an estimated 114 million tons of ore containing high concentrations of rare earth minerals and promising uranium deposits at the Jabal Sayid project in Madinah.

Speaking at the 70th IAEA General Conference in Vienna, the Minister stated that Saudi Arabia's national atomic energy project is actively exploring uranium resources for economic utilization.

He highlighted key initiatives, including extracting uranium from phosphoric acid during fertilizer production in partnership with France's Orano, following a MoU signed during HRH the Crown Prince's visit to France last August.

He noted that these reserves position Jabal Sayid among the world's premier rare earth development sites.

The initiative gained further momentum following HRH the Crown Prince's US visit in November 2025, leading to a critical minerals framework agreement and a partnership between Saudi mining giant Ma'aden and US-based MP Materials to process rare earth elements and uranium. (QNA)