China may lower its 2020 nuclear construction target from 90 GWe to 80 GWe.
It will be interesting to see if this target sticks as China has raised its nuclear construction targets from 40 GWe over the last 5 years. China could shift the target several more times and have a different level of construction in a couple of years.
China Guangdong Nuclear Power Group backdoor stock listing
China Guangdong Nuclear Power Group, which operates atomic plants 50 kilometers (31 miles) from Hong Kong’s financial center, will buy pharmaceutical supplier Vital Group Holdings Ltd. (1164), giving its uranium unit a listing in the city. This will provide a backdoor stock listing on the Hong Kong Exchange.
China Uranium Development Co., a wholly-owned subsidiary of Guangdong Nuclear, agreed to pay more than HK$984 million ($126 million) for Vital shares and convertible bonds, according to a Hong Kong stock exchange filing yesterday.
The deal gives Guangdong Nuclear access to funds in Hong Kong, one of its biggest electricity customers
CNNC uranium
China National Nuclear Corp (CNNC), the country’s largest nuclear plant operator, has started trial production at its first overseas uranium mine. The move comes as China increases efforts to secure more of the metal used in nuclear power production, from overseas acquisitions.
The Azelik mine in Niger, 37.2 percent owned by CNNC, will be capable of producing 700 tons of uranium annually when it begins full operations.
The operator said earlier that it would increase annual overseas uranium capacity to 5,000 tons within 10 years to secure supplies.
Apart from Niger, CNNC is also looking for uranium mining resources in Russia, Zimbabwe, Australia, Kazakhstan, Tanzania and Zambia.
Chinese nuclear power operators are sticking to the “Three One-Third” formula – one third from domestic supply, one third from overseas acquisitions and another third from direct international purchases – to ensure a stable supply in the long term.
Another leading nuclear power developer, China Guangdong Nuclear Power Holding Corp, made a $1.2 billion bid for Kalahari Minerals Plc earlier this month, which could give the company access to one of the largest uranium deposi
ts in Namibia.
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Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
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