BHP Planning to Sell Uranium to China ‘for Decades’

As Venezuela positions itself to sell more oil to help China meet its rising demands, Australia’s mining giant is getting ready to export uranium to China as the country prepares to expand its program. From AFP:

The chief executive of the Anglo-Australian miner, Marius Kloppers, said BHP Billiton was “very actively positioning” to take advantage of China’s move towards greater use of nuclear energy.

[…] BHP Billiton, whose Olympic Dam in South Australia holds the world’s largest known uranium reserves, said nuclear energy could help cut back on carbon emissions, which are generated from the burning of fossil fuels such as coal.

[…] Australia and China last year ratified a nuclear agreement clearing the way for the export of uranium to feed Beijing’s giant nuclear power programme.

While BHP Billiton does not yet have any supply contracts with China, it exports uranium to the United Kingdom, France, Sweden, Finland, Belgium, Japan, South Korea, Taiwan, Canada and the United States.

September 24, 2008, 11:18 AM
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