Today, Wednesday, Saudi Energy Minister Prince Abdulaziz bin Salman announced the launch of a company affiliated with Maaden to secure any resources the Kingdom needs abroad.

According to Arabiya Net, the minister said during his speech at the International Mining Conference held in Riyadh: We have large quantities of uranium and we will exploit them commercially in an optimal manner.

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

The Saudi Energy Minister stated that we are serious about hydrogen production, and Saudi Arabia will be the cheapest producer of clean hydrogen energy.

He added, "We have a better situation 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 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 stated: The Kingdom has always been an energy-producing country, but the energy that we are presenting today is the energy of youth.

The minister indicated expectations of an increase in demand for minerals to 600%.