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August 16, 2010

OECD Nuclear and Electricity Generation for January to May 2010 and China's Nuclear City

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1.

Here is the OECD electricity report for May 2010 (38 page pdf)

2. Plans are advancing for the construction of the first industrial park in China to help with the rapid development of the country's nuclear power industry, with detailed engineering and construction preparation work at the site in Haiyan, Zhejiang province, expected to start soon. China will reportedly spend some $175 billion over the next ten years on developing the 130 square-kilometre Haiyan Nuclear City.

The Haiyan nuclear industrial park is entitled to all the preferential benefits granted to national economic and technological zones and national hi-tech industrial zones. The Nuclear City is expected to have four main areas of work: development of the nuclear power equipment manufacturing industry; nuclear training and education; applied nuclear science industries (medical, agricultural, radiation detection and tracing); and promotion of the nuclear industry.


3. Cameco said it reduced its full-year forecast for uranium sales to 30 million pounds, from 31 million to 33 million, after some customers deferred deliveries until next year.

Cameco also said it won regulatory approval to boost output from its flagship McArthur River uranium mine in Saskatchewan to make up for output lost in recent years because of operational issues. Output from the mine was reduced after an underground flood in 2003.

“This provides us with an opportunity to recover the almost 5 million pounds in production shortfalls that have occurred since 2003,” the company said in the statement.

Chief Executive Officer Jerry Grandey plans to almost double Cameco’s annual uranium output to about 40 million pounds by 2018 to help meet global demand for the raw material in nuclear reactor fuel. Second-quarter uranium sales fell 1.2 percent to 8.4 million pounds, which beat the 8 million expected by Orest Wowkodaw, a Toronto-based analyst at Canaccord Financial Inc.

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