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« What’s Driving Lithium? | Main | Extract Resources Limited Hits Ten Bucks on the ASX »
Wednesday
Sep092009

China to Build More Nuclear Plants

Uranium Chart 09 Sep 09.JPG

Chart courtesy of u3o8.biz

Good news for uranium miners was the recent announcement that China plans to build more Nuclear Plants according to Japan Steel Works Ltd., a maker of atomic reactor parts for Areva SA and Toshiba Corp., more than doubled its forecast for China’s nuclear plant construction because of stimulus spending and environmental pressures, as reported by Bloomberg.

The country may build about 22 reactors in the five years ending 2010 and 132 units thereafter, compared with a company estimate last year for a total 60 reactors, President Ikuo Sato said in an interview. Japan Steel Works has the only plant that makes the central part of a large-size nuclear reactor’s containment vessel in a single piece, reducing radiation risk.

Just maybe the quantitative easing programmes coupled with various stimuli is having a positive effect on the energy sector and we will see some improvement in the demand for uranium.

The country has 9,100 megawatts of nuclear capacity and has approved the construction of additional reactors able to generate 25,400 megawatts, Sun Qin, then-deputy head of the National Energy Administration, said last month. China will issue a plan by the end of the year to push development of clean energy sources such as nuclear, wind, solar and hydro power.

The average time it took to build China’s first 10 nuclear reactors was 6.3 years, according to a report commissioned by the German environment ministry, which is considerably quicker than anything the west has managed to achieve to date.

Have a good one.

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