Bloomberg reported on Tuesday that China has approved 11 nuclear reactors across five sites valued at US$31 billion.
The country’s State Council approved the new reactors across regions such as Jiangsu, Shandong, Guangdong, Zhejiang and Guangxi. It is estimated that construction will take roughly five years.
China has approved over 10 new reactors in each of the past two years and currently has more nuclear reactors under construction than any other country.
Canadian professional services and project management company AtkinsRéalis (TSX: ATRL) recently signed a deal with Third Qinshan Nuclear Power Company Ltd. to support the ongoing 30-year life extension of the two CANDU reactors at the Qinshan Nuclear Generating Station in China.
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Uranium spot price update
As of the time of this writing on Wednesday, the uranium spot price sits at US$80,30, according to Business Insider, which is down from $81.50 from last week.
Uranium companies in the spotlight
ATHA Energy (TSXV:SASK)reported that it has entered into a joint venture agreement with Terra Uranium (ASX:T92) for the purpose of a potential joint venture on uranium exploration projects in the Athabasca Basin in Saskatchewan.
The deal will see Terra Uranium potentially acquiring 70 per cent interest in ATHA’s Spire and Horizon properties while ATHA could acquire up to a 60 per cent stake in Terra Uranium’s Pasfield Lake property.
Stallion Uranium (TSXV:STUD)released airborne gravity survey results from its Southwestern Athabasca Basin joint venture with ATHA Energy
The company stated the results indicated promising gravity anomalies that are associated with possible uranium alteration and prospective rock types highlighting more prospective target areas. The survey is a crucial step in prioritizing prospective target areas across the land package.
Finally, Highrock Resources (CSE:HRK) revealed that it had acquired private company Liberty Uranium, which is incorporated in the state of Nevada and holds 100 per cent interest in the Dry Creek uranium.
“The acquisition of Liberty Uranium and the property is an important first step in advancing the company’s strategy to identify, acquire and advance high-quality uranium assets in the United States and establishes Highrock as a player in the important Uravan uranium district,” Derrick Dao, CEO of Highrock Resources, said in a statement.
What will be the top uranium headlines next week? Stay tuned!
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