Saudi Arabia plans to monetize all its mineral resources, including uranium, by enriching and selling it, while Iran begins nuclear talks with the E3 in Geneva.

Speaking at a conference in Dhahran, Saudi energy minister Prince Abdulaziz bin Salman said on Monday, "We will enrich it and we will sell it and we will do a 'yellowcake,'" referring to the powdered concentrate used to prepare uranium fuel for nuclear reactors.

According to Iranian media, Iran's two-day discussions with the E3 (Britain, France, and Germany), along with a European Union representative, will focus on negotiations for a nuclear deal and regional issues.

The talks follow November meetings amid tensions following the UN nuclear watchdog's Board of Governors' resolution censuring Iran, demanding that Tehran resolve outstanding issues with the IAEA over its advancing nuclear program.