Beijing’s $10 Billion Five-Year Binge

摘要

Although the uranium spot price saw only moderate life in 2014, last year underlined one undeniable market reality: China’s voracious appetite for uranium concentrates is com- pletely undiminished (NIW Jul.3’14). China National Nuclear Corp. (CNNC) and China General Nuclear (CGN), the two companies authorized to import uranium concen- trates into the East Asian superpower, spent over $2.4 billion importing 21,294 tons of contained uranium in concentrates last year — more than in any previous year. In the five years since the two companies stepped up China’s strategic urani- um purchases they have spent over $10 billion importing 85,905 tU, which represents roughly 1 1/2 years of annual global uranium production.