China¿s CNNC held talks with Australian Uranium miners

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China¿s CNNC held talks with Australian Uranium minershttp://www.theaustralian.news.com.au/business/story/0,28124,25370536-36418,00.html

Elisabeth Behrmann April 22, 2009 Article from: Dow Jones Newswires                                                
                                                                                                                          
CHINA National Nuclear Corp has held preliminary talks with Australia uranium miners.

“We have contacted counterparts in Australia, and have held preliminarytalks,” CNNC vice president Jiangang Qin told Dow Jones Newswires atthe World Nuclear Fuel Cycle 2009 conference

“But we need to verify the feasibility of certain projects before making any more details public.

“Wewant to focus on our own production but we’d also like to makeinvestments similar to Japan, to plug any shortage in Chinese uraniumsupply.”

CNNC, the country’s body governing all supply ofnuclear fuel for power generation, already has acquired an explorationinterest in Niger.

Talk of China seeking large-scale investment in Australia’s uranium miners has intensified in recent weeks.

OneSydney-based investment banker said contact from Chinese companies hadincreased exponentially over the past two months, with inquiriesfocusing on the coal and uranium sector.

China is particularlyinterested in companies already in production, such as PaladinResources and Energy Resources Australia but also smaller miners at theexploration stage such as Extract Resources.

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