On January 13, 2025, Saudi Energy Minister Prince Abdulaziz bin Salman announced, during his speech at a conference in Dhahran, plans to profit from enriching and selling uranium and producing "yellowcake," a type of uranium powder used for nuclear reactor fuel. This initiative is part of Saudi Arabia's efforts to diversify its energy mix.
Prince Abdulaziz emphasized the safe handling of yellowcake, which carries minimal radiation risks. The kingdom's goal to expand uranium enrichment is noteworthy given its potential implications for nuclear weapon production. In 2018, Crown Prince Mohammed bin Salman mentioned that Saudi Arabia would develop nuclear weapons if Iran did so.
Saudi Arabia aims to transition to full implementation of the IAEA safeguards agreement by the end of 2024, moving beyond the limited oversight currently in place.