On January 13, 2025, Saudi Arabia's Minister of Energy, Prince Abdulaziz bin Salman, announced plans to generate revenue from various minerals, including uranium. In a press conference held in Dhahran, he stated, 'We will enrich uranium and sell it, and produce yellowcake,' referring to the concentrated powder used for preparing uranium fuel for nuclear reactors.
The announcement comes as Saudi Arabia embarks on an initial nuclear project, seeking to expand its capabilities to include uranium enrichment, a sensitive area due to its potential for nuclear weapons development. The Saudi government aims to utilize nuclear energy for diversifying its energy sources.
Uncertainty remains regarding the extent of Saudi Arabia's nuclear ambitions, especially after Crown Prince Mohammed bin Salman indicated in 2018 that the kingdom would pursue nuclear weapons if regional competitor Iran developed them.
In contrast, the United Arab Emirates (UAE), the first Arab nation to operate a multi-unit nuclear power plant, has committed not to enrich uranium or recycle spent fuel.
Last year, Saudi officials announced plans to relinquish oversight of nuclear facilities from the United Nations nuclear regulatory agency, opting for standard safety measures by the end of 2027.
Additionally, Saudi Arabia has yet to commence operations of its first nuclear reactor, allowing the project to remain subject to oversight under a Small Quantities Protocol (SQP) agreement with the International Atomic Energy Agency (IAEA), which exempts less advanced countries from reporting and inspection obligations.