Saudi Arabia plans to enrich domestically sourced uranium to develop its nascent nuclear industry, Energy Minister Prince Abdulaziz bin Salman announced on Wednesday.
REMARKS
Prince Abdulaziz said that the kingdom has discovered “significant quantities” of uranium, which it plans to use to strengthen its nuclear power industry. He noted that this process involves the “entire nuclear fuel cycle,” comprising producing yellowcake and low-enriched uranium and manufacturing uranium fuel for national use and export.
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The minister stressed that Saudi Arabia would work with “willing partners” and use its uranium resources “in accordance with international commitments and transparency standards.”
Contracts for #nuclear-power reactors will be
— Amir Adnani (@AmirAdnani) January 11, 2023
awarded “very soon,” Saudi Arabia’s energy minister, Abdulaziz bin Salman, said to reporters in Riyadh.
* We’re talking to willing partners”
* The kingdom has a “huge program in exploration for #uranium”
Source: Bloomberg
SIGNIFICANCE OF THE ANNOUNCEMENT
Prince Abdulaziz made the announcement amid escalating tensions between the West and Iran regarding the latter’s military support for Russia in the Ukraine conflict and Tehran’s brutal crackdown on anti-regime protests. Moreover, talks to restore the 2015 nuclear deal are in limbo. Saudi Arabia has remained wary of Iran’s nuclear programme and warned Iran against developing a nuclear weapon.
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In 2018, Saudi Crown Prince Mohammed bin Salman (MBS) said Riyadh would develop nuclear weapons if Iran manufactured an atomic bomb. Last month, Foreign Minister Prince Faisal bin Farhan warned that “all bets are off” if Iran develops a nuclear weapon, indicating that the Gulf country is ready to pursue its own nuclear weapons programme.
IRAN’S NUCLEAR ESCALATION
Israel is the only country in the Middle East believed to possess nuclear weapons. However, Iran has reportedly acquired the means to produce an atomic bomb within weeks.
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According to the International Atomic Energy Agency, Iran has been enriching uranium to 60% purity across several nuclear sites, including Natanz and the underground Fordow facility. This will allow Iran to quickly reach the minimum weapons-grade level of 25 kg of 90% enriched uranium required to manufacture one nuclear bomb.
SAUDI ARABIA’S ENERGY DIVERSIFICATION
With countries slowly shifting towards renewable and other sources of energy, Saudi Arabia has appeared eager to diversify its sources of income. In 2016, MBS launched Vision 2030 — an initiative aimed at modernising the Gulf country and reducing its excessive dependence on petrochemicals.
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