China partners with Kazakhstan uranium mine
China Guangdong Nuclear Power Group Co and China National Nuclear Corp signed with the state-owned Kazatomprom, a nuclear holding company, in Beijing to cooperate on uranium production.
Kazatomprom President Moukhtar Dzhakishev told the press that the mine’s output is likely to exceed its current quota of 2,000 metric tons, given China’s rising demand for the fuel. It is understood that the agreements will give the Kazakh uranium miner access to Chinese assets, while China will be able to broaden its access to the fuel, as demand for uranium heats up in Asia.ÂÂ
Other Asian countries such as Japan and India are reportedly turning to uranium for alternative energy sources to ease their dependence on crude oil, natural gas and coal as global prices increase.
Kazatomprom announced in May that it will start selling nuclear fuel to China by 2013. Meanwhile, Kazakhstan has earmarked US$1 billion for the next four years to be spent on increasing annual uranium output from 7,200 to 18,300 tons.
Tags: power