Sunday, July 16, 2006

G8 + Nuclear Power + China

G8 leaders agreed today to make low-enriched uranium available to each other for use in nuclear power plants. A conference with a keen focus on energy, nuclear power has been on the G8 agenda and uranium is the obvious benefactor. The resurgence in nuclear energy is being fronted by multiple countries, chief amongst them Japan, Russia, Great Britain, Canada, and the United States, not to mention China and India, not members of the G8 but clearly uranium-hungry countries.

Speaking of China, 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. In order to build the forty or so reactors in the next fifteen years, China had signed a uranium treaty with several Australia months ago. Legislation allow uranium mining has not changed significantly since that time, but do not expect that to last. China will get its uranium, and Australian uranium stockholders would like nothing more than to see that happen.


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