Saudi Gazette report

RIYADH — Energy Minister Prince Abdulaziz Bin Salman said on Wednesday Saudi Arabia plans to use domestically-sourced uranium to build up its nuclear power industry.

Addressing the Future Minerals Forum in Riyadh, he added that recent exploration had shown a diverse portfolio of uranium in the Kingdom.

“The Kingdom intends to utilize its national uranium resources, including in joint ventures with willing partners in accordance with international commitments and transparency standards,” Prince Abdulaziz said.

“This would involve the entire nuclear fuel cycle which involves the production of yellowcake, low enriched uranium and the manufacturing of nuclear fuel both for our national use and of course for export.”

He confirmed that the Saudi National Nuclear Program for Atomic Energy will work on building nuclear reactors in the Kingdom, which will include in the first stage two large commercial nuclear reactors before expanding further.

Earlier, Prince Abdulaziz said: “We have large quantities of uranium, and we will exploit them commercially in the best way... We will deal with uranium reserves with full transparency, and we will search for the appropriate partners.”

He explained that the Kingdom intends to use its uranium resources, in line with international obligations and standards for the nuclear fuel production cycle.

Saudi Arabia’s approach to produce uranium comes as part of its goals to provide clean energy locally and regionally.