Realist
Billie Jean is not my lover
- Joined
- 1 June 2006
- Posts
- 2,057
- Reactions
- 3
Re: USA - UraniumSA
China eyes uranium explorersBy Richard Sproull
September 26, 2006 12:00am
CHINA's monopoly uranium buyer has flagged its interest in buying a chunk of Australia's yellowcake mining industry by reaching out to small blue-sky explorers in South Australia.
Xu Gang, the Australian representative of China National Nuclear Corporation, said his organisation was "very serious" about getting involved in uranium mining and exploration as more nuclear reactors came on line in China.
Mr Xu said there would be a "real shortage" of uranium ore "in a few years" and demand would be met by mines in Australia or Africa.
"Whoever can get there first will help the relationship, will fulfil (the role of) the long-term supplier," he said after arriving in Adelaide yesterday.
The government-owned CNNC controls much of China's nuclear industry. Mr Xu, based in Beijing, has taken a seat on the board of blue-sky uranium miner UraniumSA but said CNNC did not have a stake in the company "at this moment".
UraniumSA, which has 17 uranium exploration licences in the Gawler Craton, revealed yesterday that its $6million public float had closed heavily oversubscribed. The company is chaired by former Mitsubishi boss Tom Phillips.
China eyes uranium explorersBy Richard Sproull
September 26, 2006 12:00am
CHINA's monopoly uranium buyer has flagged its interest in buying a chunk of Australia's yellowcake mining industry by reaching out to small blue-sky explorers in South Australia.
Xu Gang, the Australian representative of China National Nuclear Corporation, said his organisation was "very serious" about getting involved in uranium mining and exploration as more nuclear reactors came on line in China.
Mr Xu said there would be a "real shortage" of uranium ore "in a few years" and demand would be met by mines in Australia or Africa.
"Whoever can get there first will help the relationship, will fulfil (the role of) the long-term supplier," he said after arriving in Adelaide yesterday.
The government-owned CNNC controls much of China's nuclear industry. Mr Xu, based in Beijing, has taken a seat on the board of blue-sky uranium miner UraniumSA but said CNNC did not have a stake in the company "at this moment".
UraniumSA, which has 17 uranium exploration licences in the Gawler Craton, revealed yesterday that its $6million public float had closed heavily oversubscribed. The company is chaired by former Mitsubishi boss Tom Phillips.
