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Saudi Minister of Energy: We have large quantities of uranium and we will use it commercially

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Today, Wednesday, Saudi Energy Minister Prince Abdulaziz bin Salman revealed the creation of a subsidiary company for Maaden to secure all the resources we need abroad.

During his speech at the International Mining Conference held in Riyadh, the minister said: “We have large quantities of uranium and we will exploit it commercially. in optimal way “.

He continued: “We will deal with the uranium reserves in all transparency and we will look for appropriate partners “.

The Saudi Energy Minister said we take hydrogen production seriously and Saudi Arabia will be the cheapest producer of clean hydrogen energy.

He added: “We are better positioned in shale oil capabilities and have quality technologies for environmentally friendly production.”

The Saudi Minister of Energy said the energy transition process should be subject to precise considerations and not public relations, and we must not give up on energy security for the sake of transformation.

He continued: “I always say that the energy transition must be governed by three axes: ensuring energy security, helping billions of people who do not enjoy economic development and prosperity, and climate change.”

The minister stressed that Prince Mohammed bin Salman is focusing heavily on local content and there are 2.8 trillion riyals of local content-related opportunities by 2030.

Prince Abdulaziz bin Salman said it is necessary to establish standard to measure our performance for local content development.

The minister said: “The Kingdom has always been an energy producing country, but the energy we present today is the energy of young people. We have the most precious and valuable energy resource represented in the ambitious young women and men who are leading this. transformation”.

The minister referred to expectations that the demand for minerals would rise to 600%.

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