Saudi Arabia seeks to boost oil shipments through Hormuz

VIENNA — Saudi Arabia is advancing its nuclear power program and research reactor while remaining committed to non-proliferation, according to IAEA Director General Rafael Grossi. Addressing the IAEA's 70th General Conference, Grossi emphasized the IAEA's readiness to support Saudi Arabia through every stage of its nuclear development.

Grossi warmly welcomed Prince Abdulaziz bin Salman, the Kingdom's Energy Minister, to the conference. He expressed gratitude to the prince for Saudi Arabia's support of the IAEA's efforts, including its Rays of Hope initiative and cancer care programs in the region.

Prince Abdulaziz detailed Saudi Arabia's peaceful nuclear program during his presentation at the conference. He stressed that the program is developed with complete transparency and in line with international standards and obligations. The minister highlighted that Saudi Arabia is conducting its nuclear activities openly, in cooperation with international partners and the IAEA, rejecting allegations of a secretive approach.

Prince Abdulaziz emphasized that Saudi Arabia is building a comprehensive national energy mix that includes nuclear energy, while strengthening regulatory frameworks overseeing the sector. He stated that integrating nuclear energy into the Kingdom's energy mix is crucial as the nation seeks to diversify energy sources, uphold reliability, and ensure sustainability in response to growing global demand.

The minister also revealed that the National Atomic Energy Project is progressing with uranium resource exploration and economic utilization assessments. Geological studies at the Jabal Sayid project in Madinah have uncovered an estimated 110 million tons of ore, rich in rare earth minerals, particularly heavy rare earth elements, and promising uranium deposits.