Saudi Arabia values REE discoveries at SAR 375B: Alkhorayef

Minister of Industry and Mineral Resources, Bandar Alkhorayef, said rare earth element (REE) discoveries in the Kingdom are valued at around SAR 375 billion, as part of the country’s total estimated mineral wealth, which has increased by 90% since 2018 to SAR 9.4 trillion in 2024.

He said detailed studies conducted across six promising sites confirmed two advanced-stage exploration areas containing an estimated 644 million tons of resources, with an average grade of 0.30% total rare earth oxides (TREO).

The Saudi Geological Survey also identified four additional high-potential targets with combined estimated resources ranging between 364 million and 714 million tonnes, at grades of 0.95%-1.66% of total rare earth oxide (TREO).

Alkhorayef noted that the identified sites contain high proportions of heavy rare earth elements, enhancing their strategic value given their essential role in advanced technologies, clean-energy systems, robotics, and defense industries. These discoveries, he said, support the Kingdom’s ambition to become a global hub for critical minerals.

He added that the signing of the Saudi–US Strategic Framework for Cooperation on Securing Uranium, Metals, Permanent Magnets, and Critical Minerals Supply Chains reflects the strength of bilateral ties and the shared commitment to building reliable, sustainable supply chains that support global economic growth.

The agreement aims to enhance the security, stability, and sustainability of critical-mineral supply chains — particularly rare earth elements — by leveraging the Kingdom’s strategic advantages.