October 30, 2023
BEIJING – Uranium exploration and development efficiency in China has significantly increased over the past few years, with the incremental resource amount in the past 10 years accounting for one-third of China’s total confirmed reserves, said a top company official.
As countries around the world are stepping up green energy transition and striving for carbon neutrality, the demand for uranium, which is used to power nuclear plants, is intensifying. The nuclear fuel supply increase in China has greatly improved the country’s energy security, said Chen Junli, president of China Nuclear Uranium Co Ltd, a subsidiary of Chinese nuclear giant China National Nuclear Corporation, during the first International Forum on Natural Uranium Industry held in Beijing on Saturday.
According to the latest assessment of China’s uranium resource potential, the country has more than 2.8 million metric tons of natural uranium resources.
As per Chen, China has been actively, safely and orderly developing the nuclear power industry during the past few years, which will create market demand for the natural uranium industry.
Over more than 60 years of development, China’s natural uranium industry has come up with a complete industrial chain covering geological exploration, mining, refining, and processing. It has also established a natural uranium supply system that combines domestic development, overseas growth, international trade and strategic reserves, he said.