China to Tap Global Uranium for Nuclear Expansion
Date: 21-Sep-07
Country: CHINA
Author: Jim Bai
Zhang Guobao, a deputy chief of the National Development
and Reform Commission (NDRC), said the country's plans to add
one plant a year through 2020 were focused along the booming
coast, although inland provinces have been clamouring for
investment.
The country aims to spend US$50 billion to quadruple its
installed generating capacity at nuclear power plants by 2020
to 40 gigawatts (GW), or 4 percent of China's total power
generating capacity.
At present it has around 9 GW of nuclear power online, and
only limited domestic uranium supplies, so is looking for fuel
abroad for the expansion.
Another commission official said in April that China, the
world's second-biggest energy consumer, was finding it
difficult to secure uranium for the planned plants, but its
firms have since done a deal with Australia and was looking at
other mine opportunities, including one in Niger.
"Based on our forecast, there is no supply problem in the
global market even if China's mid- and long-term demand is
included," Zhang told Reuters on the sidelines of a nuclear
standards meeting.
Spot U3O8-prices for uranium ore concentrate, or yellow
cake, are strong on the back of renewed interest in nuclear
energy, seen by proponents as countering high oil prices and
aiding in global efforts to cut carbon dioxide emissions.
They hit a record high of US$136 a pound at the end of June,
up from just US$7 in 2000, but has since recoiled to US$90.
"The trading of uranium resources are no different from
other energy products," he added.
NO INLAND PLANTS APPROVED
Zhang said many inland Chinese provinces had proposed to
the central government to build nuclear power plants, but none
of them had received the go-ahead.
"The focus now is to build plants in the coastal regions
that are close to major power demand markets and can easily tap
sea water to cool the generators," said Zhang.
"We do not rule out the possibility to consider plants in
inland regions in the future, as it has been done in some other
countries such as France and the United States," he added.
Zhang declined to comment on a Reuters report that China
had cancelled plans to build two Areva reactors at Yangjiang in
southern Guangdong province.
"That is a matter between those companies," he said.
Sources said China was in talks with Areva to relocate the
plant to Taishan, also in Guangdong, and the country would
press ahead with four reactors in Yangjiang using domestic
technology.
