Energy Metals announced that it has been granted permission by the Australia Government to export uranium oxide concentrate from Australia for 10 years.
Energy Metals is 60.6% owned by China Uranium Development Company. What make the permit interesting is Energy Metals' plans to purchase uranium oxide from existing and emerging uranium mines in Australia for export to China to feed its insatiable demand for power.
The uranium oxide will then be exported to China for resale to China Guangdong Nuclear Power for use in China's nuclear power stations.
Energy Metals is aiming to be CGNPC's platform for expansion in Australia and expects further Chinese interest to emerge in the company. The company will commence drilling in March aiming for more discoveries in the Ngalia Basin.
Source：www.steelguru.com