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| Friday, October 10, 2008 20:56:39 |
China eyes Australian uranium
China is in a bid wit Austrlian uranium companies to secure nuclear fuel supplies to meet te countrie's soaring energy demand, news.com.au reported.
Senior representatives of four Chinese trading companies will attend a conference in Perth next week with a view to signing equity deals with Australian uranium explorers. Xu Gang, chief China representative for Australian consultants Sustainability, said to the paper that off-take agreements would form part of any deals negotiated.
China plans to build 40 new nuclear reactors by 2020. Federal Resources Minister Ian Macfarlane wants Australian uranium double annual exports from about 10,000 tonnes a year to meet China’s demand.
Uranium explorer Uranex has already signed a deal with the China National Nuclear Corporation, a state-owned body, to explore and develop uranium at its projects in Australia and Tanzania, the paper said.
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