Antinuclear

China seeking strategic control of Australia’s uranium

Uranium follows rare earths as China eyes strategic control
Robin Bromby | September 08, 2009

Article from:  The Australian

FIRST rare earths, now uranium. It seems the Chinese are determined to get control of key strategic metals – and Australia seems to be welcoming the idea.

Chinese companies have effectively moved to take control of the two most advanced rare earths projects here (although one is still subject to approval by the Foreign Investment Review Board).

And, as we saw this morning, uranium is also high on Beijing’s shopping list. It is proposed that China Guangdong Nuclear Power (CGNP) will acquire 70 per cent of Energy Metals (EME) which has the Bigrlyi uranium project in the Northern Territory, where there is already a JORC-compliant economic uranium resource (as well as vanadium). This is almost certain to succeed because Jindalee Resources (JRL) owns 40 per cent of EME and has agreed to the deal…………………..
it’s still cheap as chips for what could be Australia’s next uranium mine to be developed. CGNP has four operating nuclear power stations and what better for it than to control its own mines, rather than have to be at the mercy of the open market?

Uranium follows rare earths as China eyes strategic control | The Australian

September 10, 2009 - Posted by Christina Macpherson | 1, AUSTRALIA - NATIONAL, business, uranium | antinuclear, Australia, nuclear, uranium