Dec 06, 2010

Southern Mongolia: Finding of 30,000 Tonne Uranium Deposit

Reports on a finding of 30,000 tonnes of uranium in Southern Mongolia were welcomed by the government in the context of China’s expanding nuclear industry. The discovered metal deposit is an example of the region’s richness facing continuous state exploitation.


Below is an article published by News Center:

China has found a major uranium deposit in Inner Mongolia holding an estimated 30,000 tonnes of the metal, state television reported on Saturday [4 December 2010].

‘The discovery in China's mineral-rich Ordos region will help ensure the domestic supply of uranium for its expanding nuclear industry in coming decades’, Zhang Jindai, chief geologist with China National Nuclear Corp, was quoted by China's central television.

China is expected to announce a new 2020 target of 70 gigawatts of nuclear capacity, up from 11 gigawatts at the end of last year, but experts have suggested that a fuel supply bottleneck could slow the pace of construction.

Industry officials have been talking down the problem, insisting the country already has sufficient uranium to meet its needs even though it chooses to hedge its bets by investing heavily in overseas mines.