We are currently in discussions with China regarding a potential uranium supply agreement.
The Asian superpower expects to have 75 gigawatts (a gigawatt is one billion watts)
of nuclear power generating capacity by 2030....
While there is transparency when it comes to China's nuclear power industry,
it's more difficult to get a clear picture when it comes to military applications....
China continues to modernise its nuclear arsenals and
has not undertaken any nuclear arms reductions.
Nor does the country disclose any information on its nuclear arsenal.
OZ & CANADA FUEL CHINA'S NUKES
Another major concern over China's increased use of nuclear power is environmental damage.
How China disposes of its nuclear waste has wide ramifications.
It will move that high-level nuclear waste into the area
that is historically known as Tibet.
Canada's Cameco in talks to fuel China's nuclear power needs
by Andy Hoffman, May 2, 2009
China, with ambitious plans to boost the amount of electricity produced from nuclear power, is in talks with [Canada] Cameco Corp (CCO-T) about a potential uranium supply agreement. The Asian giant has become a significant buyer of the radioactive metal on the spot market as it increases its nuclear power capacity, and has entered talks with Saskatoon-based Cameco, the world's largest uranium producer. China is actively taking advantage of weak prices to secure supply of the metal used to make nuclear fuel.
A spokesman for Cameco confirmed the company is in discussions with Chinese officials about a supply deal. The company also said power utilities, including state-controlled Chinese entities, have accounted for half of recent purchases on the uranium spot market. "When you talk about utility buying, a good portion of that would have to be attributed to the Chinese. In their case, they are looking to stockpile significant quantities of inventory for the Chinese program," George Assie, Cameco's senior vice-president of marketing and business development, said on a conference call. Chinese demand for uranium could underpin a recovery in spot prices, which have recently hit $44 (U.S.) a pound after plunging to about $40 from a peak of $135 in 2007. Stockpiling of copper by China has driven a recovery in prices of that metal. Copper has rallied from recent low of $1.25 a pound to above $2.
Cameco spokesman Lyle Krahn said the company is currently in discussions with China regarding a potential uranium supply agreement. The Asian superpower expects to have 75 gigawatts (a gigawatt is one billion watts) of nuclear power generating capacity by 2030. That represents just three-quarters of current capacity in the U.S. - the largest nuclear power producer - and only 10 per cent of China's total electricity demand. "The uranium market potential in China is absolutely huge," Mr. Krahn said.
Scotia Capital Inc. China strategist Na Liu said the market is underestimating the speed at which China is adding nuclear capacity. He is forecasting that China will have total nuclear capacity of 35 gigawatts by 2015 and 75 gigawatts by 2020, up from the 9.068 gigawatts operating today. China is currently building 20 new nuclear reactors, with approximately one gigawatt of capacity each. Scotia Capital predicts that by 2020, China will consume 15,700 tonnes of uranium a year. "At this rate, China's currently known uranium resources can only last for five to 10 years. Clearly, in our opinion, it is imperative for China to secure long-term supply through imports or investment," Mr. Liu said in a recent note. China has also recently held discussions with Australian producers regarding potential supply agreements.
A group of Japanese utilities recently struck a long-term uranium supply deal and took an equity stake in Toronto-based producer Uranium One Inc., while a South Korean consortium struck a similar deal with Denison Mines Corp. The news about China's rising nuclear-power ambitions came as Cameco said its first-quarter profit fell 38 per cent, missing analysts' estimates. Costs were boosted by purchases of uranium at above-production prices for future resale. The company raised its 2009 sales forecast slightly.
Cameco's uranium purchases - part of a plan to benefit from a longer-term rise in the price - contributed to a rise in uranium production costs to $220-million in the quarter from $169-million in the same quarter a year ago. Faced with analysts' questions on a conference call, chief executive officer Jerry Grandey defended the purchases as a longer-term trading strategy. "Down the road, we will realize additional revenue and earnings as we deliver the purchased material to our customers," he said. The higher costs helped pull down profit to $82-million or 22 cents a share, from $133-million or 37 cents a year earlier. Excluding one-time items, the company said it earned $89-million or 24 cents, missing the 33-cent profit expected by analysts polled by Reuters Estimates. Quarterly revenue rose 4 per cent to $615-million, as uranium production rose 26.3 per cent to 4.8 million pounds, while the company also had stronger results at its electricity generation business.
Australia government happy selling uranianium to China trade
ABC, Apr 22, 2009
The Federal Government says it has no concerns about China expanding its use of uranium for nuclear power generation. Australia's mining industry is expecting China's plans to build five more nuclear plants to create more opportunities for uranium exports. The Resources and Energy Minister, Martin Ferguson, says the Government has an agreement with China on the safe use of Australian uranium. "We will continue to export as much of our commodities we can, including uranium, to countries who are interested in purchasing our commodities," he said. "But obviously with respect to the issue of uranium, there are very clear demands from the Government... which guarantees the safe use of Australian uranium."
But the Opposition's resources spokesman, Ian Macfarlane, says Australia risks losing business to other nations unless the Government loosens restrictions on the market. He says the Government needs to allow new uranium mines to be opened and permit exports to more nations. "There are billions of dollars of uranium lying in the ground in Queensland and the potential for jobs to go with that," he said. "As well as that, we've got a confused policy from the Rudd Government on exporting uranium to countries like India under the same terms and conditions as the Rudd Government has already agreed to export uranium to China on. "So, there are markets there going begging at the moment."
Australia sells more uranium to China
Radio Australia, Apr 24, 2009
Australia is set to ramp up its uranium sales to China which is embarking on a dramatic program of building nuclear power stations. Australia's first shipment of uranium to the Middle Kingdom occurred last November and it is determined that it won't be the last.
Radio Australia's presenter Michael Cavanagh interviews Australia's Resources and Energy Minister Martin Ferguson; Dr Stehan Fruehling from the Australian National University's Strategic and Defence Studies Centre; David Noonan from the Australian Conservation Foundation:
MC: With Australia's economy like many other countries either in recession or teetering on the edge, the potential to help meet China's seemingly insatiable demand for energy is attractive as it would provide much-needed income.
RESOURCES/ENERGY MINISTER: It is there for Australia to seize because our major competitors are countries such as Canada and Kazakhstan. They're not going to stand still and nor should we, especially in a tough global economic situation. Every job counts.
MC: Australia's Resources and Energy Minister, Martin Ferguson, pointing out that if Australia waits, other countries will be there to sell uranium to China, which plans another 5 nuclear power plants added to the 24 presently under construction. His justification comes as Australia's uranium industry agitates for a change to the present policy which restricts the number of mines allowed. Another aspect of Australia's policy which annoys some in the industry is that no uranium is to be sold to countries which have not signed the Nuclear Non-Proliferation Treaty. This hurdle recently stopped India being allowed a share of Australia's uranium exports despite intense efforts by that country's government to have this changed. Those in Australia against increased uranium exports argue that by selling uranium to countries such as China it frees up its own uranium reserves for weapons. Mr Ferguson says this will not occur as there are safeguards in the present deal with Beijing.
RESOURCES/ENERGY MINISTER: There are very clear demands from the Australian Government as to enter into... bilateral which guarantees the safe use of Australian uranium into the countries which can purchase Australian uranium are restricted in number but I'm pleased to say in this instance we're capable of growing our exports of uranium to China.
MC: While there may be safeguards in the deal, Dr Stephan Fruhling from the Australian National University's Strategic and Defence Studies Centre says while there is transparency when it comes to China's nuclear power industry, it's more difficult to get a clear picture when it comes to military applications, although he says improved weapons technology has lessened China's need to use uranium from elsewhere for its nuclear arms.
STRATEGIC DEFENCE CENTRE: As far as we know they don't have a need for additional material so the risk of diversion of any material or the risk that China might be able to free up its own limited uranium reserves for the military program is more theoretical than practical at this stage.
MC: Another major concern over China's increased use of nuclear power centres on environmental damage. David Noonan from the Australian Conservation Foundation says how China disposes of its nuclear waste has wide ramifications.
CONSERVATION FOUNDATION: It will move that high-level nuclear waste into the area that is historically known as Tibet and Australia will then become complicit in China taking nuclear risks in Tibet and in the ongoing widespread human-rights abuses and the ongoing cultural genocide that China is perpetrating against the Tibetan people.
Japan chides China on lack of nuclear transparency
Reuters, Apr 27, 2009
Tokyo - Japan's foreign minister chided Beijing on Monday for a lack of transparency about its nuclear arsenal ahead of Prime Minister Taro Aso's visit to China this week. In a speech outlining an 11-point initiative for global nuclear disarmament, Foreign Minister Hirofumi Nakasone backed U.S. President Barack Obama's recent call for a nuclear-free world. He also said North Korea's ballistic missile development was a source of suspicion and tension around the world. "China continues to modernise its nuclear arsenals and has not undertaken any nuclear arms reductions," Nakasone said. "Nor does the country disclose any information on its nuclear arsenal." Aso is expected to raise the issue of the lack of transparency in Beijing's military spending when he meets Chinese leaders on Wednesday and Thursday.
Nakasone said Japan, the only country that suffered from atomic bombs, wanted to host an international conference to discuss global nuclear disarmament early next year ahead of the 2010 review conference of the nuclear Non-Proliferation Treaty (NPT), the pact that aims to prevent the spread of nuclear arms. Japan has for decades banned the possession, production and import of nuclear arms but relies on a U.S. "nuclear umbrella" for its protection. Nakasone also urged India, Pakistan and Israel to join the NPT as non-nuclear powers, while stressing the need for Iran to adhere to U.N. resolutions on its uranium enrichment to win confidence from the international community.
ARMING OUR ENEMIES & USA LETS CHINA SCAN NUKES & CHINA NUKES THRU PANAMA? & CHINA ATTACK USA BY PANAMA?
6.SuperStates & 35.Big Brother Brotherhood
Canada's Cameco in talks to fuel China's power needs. GlobeMail, May 2, 2009
Japan chides China on lack of nuclear transparency. Reuters, Apr 27, 2009
Australia sells more uranium to China. Radio Australia, Apr 24, 2009
Australia government happy with china uraniamium trade. ABC, Apr 22, 2009
China puts its naval might on display (shows the world its latest warships). BBC, Apr 23, 2009
China defends N/Korea illegal nuclear missile test (China remains North Korea's staunchest ally) & North Korea has world's largest artillery force (against 28,500 USA troops in South Korea)/. Breitbart, Apr 11, 2009
58th anniversary of Truman firing MacArthur (commander of UN forces in Korean War). BBC, Apr 11, 1951-2001. Go to JFK LISTENS TO MACARTHUR
("Eisenhower's chickens coming home to roost and I live in the chicken coop")
Are you still buying Made in China? (communist country destroyed our economy; cheap workers, no labour laws, no environmental rules, no competition) & Chinese buying prime USA real estate (call America "mei guo" - the beautiful land; they want a piece of it) & China shopping spree of Canada resources (spending its US$2-trillion foreign reserves). Penn/Star/ABC/CanCom, Mar 7, 2009
America is becoming a Chinese puppet state (China book "Unrestricted Warfare" describes economic war to defeat superior enemy). Tribune, Feb 26, 2009
Kissinger celebrates China-USA relations (secret visit in 1971 paved way). Xinhuanet, Jan 6, 2009
CHINESE TAKE OVER & CHINADA'S SOVIETIZATION
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