China Reports Uranium Reserves Over Two Million Tonnes

Mining.com reported that according to Chinese authorities, recent studies show the country’s uranium reserves are over 2 million tonnes, meaning its deposits have doubled in the last 15 years to more than 350 across the nation.

As quoted in the market news:

The news come as China continues to expand its nuclear program, officially resuming construction of new plants after a 15-months hiatus, beginning with the fifth unit at the Hongyanhe nuclear plant in Liaoning.

With the move, Beijing intends to become self-sufficient not just in nuclear power plant capacity, but also in the production of fuel for those plants.

Domestic uranium mining currently supplies less than a quarter of China’s nuclear fuel needs, according to data from The World Nuclear Association. Exploration and plans for new mines have increased significantly since 2000, and state-owned firms are also acquiring uranium resources internationally.

Click here to read the full Mining.com report.