China plans uranium strategic reserve to back its nuclear power sector

China’s Commission of Science Technology and Industry for National Defense said China plans to set up a national uranium strategic reserve to ensure that its nuclear industry is backed by a stable and reliable fuel supply.

The commission’s report, the 11th Five-Year Plan for the Nuclear Industry,” said the nation will identify and encourage careful exploitation domestic uranium deposits, and improve its domestic production capacity.
The national uranium reserve, along with commercial uranium stockpiles, is scheduled to commence in 2010, according to China Economic Net. Nevertheless, China intends to continue its quest for overseas uranium resources.

It is believed that China’s planned nuclear power reactors will consume 44 million pounds of uranium annually. More than 16 provinces, regions and municipalities have announced intentions to build nuclear power plants between 2011 and 2015. Provinces will put together firm proposals with reactor vendors by 2008 and submit them to the central government for approval before 2010, according to the Australian Uranium Association.

Mineweb