Why is China interested in Australian uranium?
China is seeking secure, long-term sources of energy to fuel its economic growth. It is the second largest energy consumer behind the US, currently generating some 80% of its electricity by fossil fuel, mainly coal. China is seeking a 4-fold increase in nuclear energy by 2020. Such expansion of nuclear energy will help manage greenhouse gas emissions and reduce pollution, not only in China but globally. While China currently meets its own uranium needs, it will need to start importing uranium within the next few years if it is to meet its expanding nuclear energy requirements. Australia has about 30% of the world’s medium cost uranium reserves.
