Saudi Arabia plans to monetize all minerals, including by selling uranium, Saudi energy minister Prince Abdulaziz bin Salman said recently.
- The minister stated that Saudi Arabia aims to generate revenue from all minerals, including uranium.
- He noted that “the kingdom will enrich uranium, sell it, and produce what is known as yellowcake”—a concentrated uranium powder free of impurities used to produce nuclear reactor fuel.
- According to the US Nuclear Regulatory Commission, Yellowcake is the solid form of mixed uranium oxide, which is produced from uranium ore in the uranium recovery (milling) process. It is generally yellow in colour.
