A recent presentation by James Dines a self confessed uranium bug contained a very interesting snippet: China will be building 2 new nuclear reactors a week by 2020.
And on the demand side, this week John Borshoff reckons that China has come “out of its slumber’’ and piled up 133 million pounds in long-term supply contracts. According to Businessday.com’s B Fitzgerald.
‘’Although they have sucked (up) a chunk of new production they are nowhere near their target of acquiring in the vicinity of 45-50 million pounds per annum by 2020.’’ J Borshoff Paladin CEO.
This augurs well for Australia as we have somewhere around 40% of the world’s uranium.
It seems ludicrous that Australia doesn’t have its own cradle to grave uranium business as we have over 40% of the world’s economic uranium resources, (www.australianuranium.com.au) plus a vast amount of land providing us with plenty of places where we could build a dedicated port and processing facility.
Eventually our cheaply exported uranium will run out and we will have missed another opportunity to capitalize on what we have by value adding.
That Australia will miss out on being a vital cog in making nuclear energy safe via the oversight that a cradle to grave solution offers should shame us and our grandchildren will likely not thank us for our lazy complacency.