Saudi Arabia has discovered natural uranium resources within its borders and will use it to build its nuclear power industry, a government minister announced on Wednesday. Saudi Energy Minister Prince Abdulaziz bin Salman told the Future Minerals Summit in Riyadh, a mining conference, that the kingdom “intends to utilize its national uranium resources, including in joint ventures with willing partners in accordance with international commitments and transparency standards.” He said this includes “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.”
Saudi Arabia holds between 1.4% and 5% of the world’s current uranium reserves. The Saudis reportedly have had talks with China about developing its nuclear technology.
The minister said developing a nuclear power industry could provide the country with “energy security” and an alternative to oil. Saudi Arabia last year unveiled plans ahead of the UN climate change conference in Glasgow to reach net-zero emissions by 2060.