China's CNNC: Has Held Talks With Australian Uranium Miners
22 Abril 2009 - 4:05AM
Dow Jones News
China National Nuclear Corp., the country's body governing all
supply of nuclear fuel for power generation, has held preliminary
talks with Australia uranium miners, CNNC's vice president said
Wednesday.
"We have contacted counterparts in Australia, and have held
preliminary talks. But we need to verify the feasibility of certain
projects before making any more details public," CNNC Vice
President Jiangang Qin told Dow Jones Newswires on the sidelines of
the World Nuclear Fuel Cycle 2009 conference.
"We want to focus on our own production but we'd also like to
make investments similar to Japan, to plug any shortage in Chinese
uranium supply," he said.
CNNC already has acquired an exploration interest in Niger.
Talk of China seeking large-scale investment in Australia's
uranium miners has intensified in recent weeks. One Sydney-based
investment banker said contact from Chinese companies had increased
exponentially over the past two months, with inquiries focusing on
the coal and uranium sector.
China is particularly interested in companies already in
production, such as Paladin Resources Ltd. and Energy Resources
Australia Ltd. (majority-owned by Rio Tinto PLC) but also smaller
miners at the exploration stage such as Extract Resources Ltd.
-By Elisabeth Behrmann, Dow Jones Newswires;
61-2-8272-4689 elisabeth.behrmann@dowjones.com
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