A 110 million-ton deposit of rare earth elements and uranium has been discovered in Medina, Saudi Arabia

[Financial News] A large mine containing approximately 110 million tons of rare earth minerals and uranium ore has been discovered in the Medina region of Saudi Arabia.
According to an Arab News report on the 14th (local time), Saudi Energy Minister Abdulaziz bin Salman Al Saud announced in a speech at the General Conference of the International Atomic Energy Agency (IAEA) that "exploration results from the Jabal Said project in Medina indicate that approximately 110 million tons of ore containing high concentrations of rare earth elements, including heavy rare earth elements, and promising levels of uranium are estimated to be present."
This major mineral discovery came immediately after the United States and Saudi Arabia formalized civilian nuclear cooperation. The two countries signed a civilian nuclear agreement last July, laying the legal groundwork for U.S. companies to enter Saudi Arabia's nuclear power industry.
Mineral and energy cooperation between the two countries gained momentum following Crown Prince Mohammed bin Salman Al Saud's visit to the United States in November 2025. At the time, the two countries signed a strategic framework to strengthen cooperation on critical minerals and supply chains.
Accordingly, the U.S. Department of Defense agreed to support a 49% stake in a new rare earth processing plant being built in Saudi Arabia by the Saudi Arabian Mining Company (Maaden) and U.S.-based MP Materials.
The Jabal Said deposit, located approximately 350 km northeast of Jeddah, is already considered a world-class rare earth deposit. According to an analysis by the Center for Strategic and International Studies (CSIS), it contains approximately 552,000 tons of heavy rare earth elements, such as Dysprosium and Terbium, and 355,000 tons of light rare earth elements, such as neodymium and Praseodymium, ranking fourth in the world in terms of reserves.
The uranium resources found alongside them are also estimated at approximately 31,000 tons. Experts predict that Saudi Arabia will use this discovery as a springboard not only to establish its own nuclear fuel cycle but also to position itself as an exporter of minerals and fuel to the United States.
Meanwhile, according to research by the Saudi Geological Survey, the estimated value of Saudi Arabia's rare earth resources surged 90% from 2018, surpassing $100 billion (approximately 130 trillion won), driven by continued exploration successes.



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