Uranium mine discovery in Saudi Arabia.
Saudi Arabia has become one of the richest and most influential countries in the world due to mineral oil. This time, another valuable energy, uranium, has been found underground in the country. Geological exploration has identified about 110 million tons of ore in the Jabal Said area of the Medina region. Where there are large reserves of uranium in addition to rare minerals. The exact percentage of uranium in this and how much uranium can be extracted from it is not yet fully known.
The most important use of uranium is as fuel for nuclear power plants. However, uranium-rich rocks cannot be directly taken from the mine and put into a nuclear power plant. First, the ore has to be extracted from the mine. Then the ore is broken and processed to separate the uranium. At one point, a concentrated uranium powder is formed in this process. Which is commonly known as yellow cake.
But yellow cake is also not directly used as fuel for most nuclear power plants. A type of isotope called uranium-235 is used as fuel for power plants. Yellowcake is suitable for use only after it is highly enriched to produce uranium-235 isotopes. Saudi Arabia wants to enrich uranium to produce yellowcake and also wants to sell that uranium in the future. The use of US nuclear technology and materials in another country's civilian nuclear program requires a legal framework.
Saudi Arabia wants to make the most economic use of its mineral resources. As part of that plan, the issue of uranium extraction, production of yellowcake, uranium enrichment and sale comes to the fore. This is also consistent with the biggest change in the Saudi economy. Uranium is a rare mineral that has created a new possibility in that plan.
Another important aspect of the new discovery in Jabal Said in particular is that not only uranium, but also heavy rare minerals with high concentrations have been found there. If the uranium grade of the ore is good and can be extracted commercially profitably, it can become three types of resources for Saudi Arabia at the same time. First, a source of fuel for its own nuclear power plants.
Secondly, new export income by selling uranium and its processed products. Thirdly, the opportunity to build a full-fledged nuclear energy industry in their own country. Saudi Arabia's oil has already created a monopoly in the world market. Time will tell whether their new uranium discovery can reach that level. However, it goes without saying that Saudi Arabia has left all other countries in the world behind in terms of mineral resources.
Last year, there was news of the discovery of one of the world's largest gold mines in the holy province of Mecca in Saudi Arabia. This gold wealth hidden under the desert sand has radically changed not only the economy of Saudi Arabia but also the map of the global mineral industry.
Posted Using INLEO