Iran produced 55 kg of 20 pct enriched uranium since January: Official
April 7, 2021, 9:47 am

Iran produced 55 kg of 20 pct enriched uranium since January: Official

A view of the Natanz uranium enrichment facility 250 km (155 miles) south of the Iranian capital Tehran. (File photo: Reuters)

Iran has made 55 kg of uranium enriched to up to 20 percent - the point at which it is highly enriched - indicating quicker production the 10 kg a month rate required by an Iranian law that created the process in January, Iranian authorities said on Wednesday.

The disclosure comes a day after Tehran and Washington held what they described as “constructive” indirect talks in Vienna on Tuesday aimed at finding ways to revive a 2015 nuclear deal between Iran and world powers.

Iran’s hardline parliament passed a law last year that obliges the government to harden its nuclear stance, partly in reaction to former President Donald Trump’s withdrawal from the nuclear deal in 2018.

Trump’s withdrawal prompted Iran to steadily overstep the accord’s limits on its nuclear program designed to make it harder to develop an atomic bomb - an ambition Tehran denies.

The law required Iran to start enriching to 20 percent and stipulated that at least 120 kg (265 pounds) of uranium refined to that level be made each year, which amounts to 10 kg a month.

Iran’s production rate is already “up to 40 percent” faster than that, Atomic Energy Organization spokesman Behrouz Kamalvandi indicated.

“In less than four months we have produced 55 kg of 20 percent enriched uranium ... in around eight months we can reach 120 kg,” Kamalvandi told state TV.

Uranium is considered highly enriched as of 20 percent. Enriching to 20 percent is a big step towards enriching to weapons-grade.

A quarterly report on Iran’s nuclear activities by the UN nuclear watchdog in February said that as of Feb. 16, Iran had produced 17.6 kg of uranium enriched up to 20 percent, with the next level down being enriched between 2 percent-5 percent.

A senior diplomat said at the time that Iran was producing uranium enriched to 20 percent at a rate of 15 kg per month.

As part of a recent acceleration of its breaches of the nuclear deal, in January Iran began enriching uranium to 20 percent at Fordow, an underground uranium enrichment site that was built in secret inside a mountain possibly to withstand any aerial bombardment.

Under the deal, Tehran is not allowed to enrich uranium at Fordow at all.

Until January, Iran had not enriched beyond 4.5 percent purity - above the deal’s limit of 3.67 percent but still far below the 20 percent it achieved before the deal, or the 90 percent that is weapons-grade.

source: Reuters

Image source: Reuters

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).

Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.