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We have large quantities of uranium and we will use it commercially

We have large quantities of uranium and we will use it commercially

Today, Wednesday, Saudi Energy Minister Prince Abdulaziz bin Salman revealed the establishment of a subsidiary company for Maaden to secure any 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 an optimal manner.”

He continued, “We will deal with uranium reserves in all transparency, and we will search for appropriate partners.”

mentioned Saudi Energy MinisterWe are serious about hydrogen production, and Saudi Arabia will be the cheapest producer of clean hydrogen energy.

He added, “We have a better position in the capabilities of shale oil, and we have quality technologies for production that are environmentally friendly.”

The Saudi Energy Minister said that the process of energy transition should be subject to precise considerations and not to public relations, and we should not give up 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 opportunities related to local content by 2030.

Prince Abdulaziz bin Salman said that it is necessary to set standards to measure our performance for developing local content.

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

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