Chinese power utilities are stockpiling enriched uranium as the country launched a huge expansion of nuclear power projects. Cameco Corp, the world's second-largest uranium producer, said power utilities in China are lifelong to stockpile uranium, creation them the market's single largest group of buyers. Utilities in China have bought a predictable eight million pounds of uranium, the raw material in the nuclear reactor fuel, from the spot market this year, said George Assie, Cameco's Senior Vice President, marketing.
"Keep in mind they have 13 reactors under construction," Assie said yesterday on a meeting call with investors and analysts. "The stockpile there is for a very exact reason and that is to feed those reactors under construction," he was quoted as saying by 'China Daily' on its website. Uranium purchase by Chinese utilities this year confirms that the world's most crowded country is becoming a more significant force in nuclear fuel markets, said Dustin Garrow, the Denver-based managerial General Manager for Paladin Energy Ltd, the world's ninth-largest uranium producer.
"There's no question the Chinese will become additional active buyers as they increase their installed nuclear capacity," Garrow sad. Chinese action in uranium spot markets was "minimal" last year, he said. China, which has about 8,587 MW of nuclear-power capacity, is actively building enough new reactors to improve capacity by 15,360 MW, Garrow said, citing data from the World Nuclear Association.
"Keep in mind they have 13 reactors under construction," Assie said yesterday on a meeting call with investors and analysts. "The stockpile there is for a very exact reason and that is to feed those reactors under construction," he was quoted as saying by 'China Daily' on its website. Uranium purchase by Chinese utilities this year confirms that the world's most crowded country is becoming a more significant force in nuclear fuel markets, said Dustin Garrow, the Denver-based managerial General Manager for Paladin Energy Ltd, the world's ninth-largest uranium producer.
"There's no question the Chinese will become additional active buyers as they increase their installed nuclear capacity," Garrow sad. Chinese action in uranium spot markets was "minimal" last year, he said. China, which has about 8,587 MW of nuclear-power capacity, is actively building enough new reactors to improve capacity by 15,360 MW, Garrow said, citing data from the World Nuclear Association.
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