Cameco Says Utilities in China Stockpiling Uranium

[phantom power]

(Bloomberg) -- Cameco Corp., the world’s second- largest uranium producer, said power utilities in China are continuing to stockpile uranium, making them the market’s single-largest group of buyers.

Utilities in China have bought an estimated 8 million pounds of uranium, the raw material in nuclear-reactor fuel, on the spot market this year, said George Assie, Cameco’s senior vice president of marketing.

“Keep in mind they have 13 reactors under construction,” Assie said today on a conference call with investors and analysts. “The stockpile there is for a very specific reason and that is to feed those reactors under construction.”

http://www.bloomberg.com/apps/news?pid=20601082&sid=acdpGM_npuYI

[AlecBGreen]

1. 8 million pounds!?

That must be ore, not refined pure Uranium... right?

[phantom power]

2. Cameco sells refined fuel. My guess it that it's refined...

Uranium is dense. 8 million pounds isn't as much as you'd think.

On the other hand, uranium has an energy density at least 10,000 times that of coal. A half-gigawatt coal plant uses 250 tons of coal per hour.

[AlecBGreen]

4. wow

thanks for the info :hi:

[Dogmudgeon]

3. This must be a lie

Nuclear energy is doomed. Al Gore, Mark Z. Jacobsen, and Mark Z. Jacobsen's mother said so. I read it right here.

This has to be part of The Conspiracy To Make NNadir Look Good.

--d!