Chinese Close $12 Billion Uranium Deal

November 27, 2007 | By | Reply More

Avira, the French nuclear power company will be supplying state owned China Guangdong Nuclear Power Corp with a minimum of 23,000 tons of uranium over the next 14 years. This is in addition to an annual 600 tons that had already been agreed.

The French company will build and supply two nuclear reactors in Guangdong.

This deal is the largest nuclear power contract yet.

With China’s plans to double nuclear power capacity within the next twelve years and its own uranium production declining, the country is becoming ever more dependent upon supplies from abroad to satisfy its growing demand.

More ammunition for the uranium and nuclear energy bulls!

 

Gold Stays Steady, Platinum Does Well

 

Despite another difficult Wall Street day that saw markets tumble, gold stays steady managed to hang on to a small gain by the close in heavy trade despite easier oil prices and credit woes. Main attention centered on the continuing weakness of the dollar and an increased awareness of the possibility of a recession looming ever closer.

Earlier reports of union problems in South Africa and a threatened strike by mineworkers also had its effect on the prices of gold and other precious metals with platinum hitting a record high of $1,486 an ounce before slipping back on profit taking.

 

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Category: Uranium

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