CADF signs extraction deal for uranium

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Thursday, 02 September 2010 06:07

 

China National Nuclear Corporation (CNNC) announced on August 31 that it has signed a contract with the China-Africa Development Fund (CADF) on uranium exploration in Africa.

China Uranium Corporation, a subsidiary of CNNC, will set up a joint venture company with CADF in Beijing to carry out the uranium investment and exploration, according to the statement.
"Chinese is basically capable of exporting nuclear technologies," said Zhou Xiujie, analyst with the China Investment Consulting.

"China will start nuclear power cooperation with Belorus, Vietnam, Argentina and South Africa and has plans to sell nuclear reactors to Pakistan."

Due to international and domestic concerns about air quality and global warming, China has been looking to nuclear as an alternative to coal fired power.

The State-owned CNNC is the largest nuclear enterprise in China by capacity. CNNC is a nationwide industrial conglomerate integrating science, technology, industry, and international trade.
Source:business.globaltimes.cn

 

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