China National Nuclear Corporation

www.cnnc.com.cn
Zhejiang, China

The China National Nuclear Corporation is a state-owned entity founded in 1955. CNNC's president and vice-president are appointed by the Premier of the State Council. However the CNNC is a self-supporting economic corporation, not a government administrative body. It oversees all aspects of China's civilian and military nuclear programs. According to it own mission statement, it "combines military nuclear weapons production with civilian production, taking nuclear industry as the basis while developing nuclear power and promoting a diversified economy." CNNC is a nationwide industrial conglomerate integrating science, technology, industry, and international trade.The CNNC is the successor to the Ministry of Nuclear Industry which built China's first atom bomb, hydrogen bomb and nuclear submarine. It functioned as a government bureau for the national nuclear industry and reported directly to the State Council. It oversaw China's nuclear-related corporations, manufacturers, institutions, research institutes, and plants, including those related to nuclear weapons. It was responsible for the design and operation of nuclear power plants; nuclear fuel production and supply, including the processing of natural uranium, uranium conversion and enrichment, fuel assembly fabrication, spent fuel reprocessing, and nuclear waste disposal. Wikipedia.


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News Article | May 10, 2017
Site: www.theenergycollective.com

The Idaho National Laboratory (INL) has a plan to conduct nuclear energy R&D using NuScale’s light water reactor technology. In doing so it will create a test bed on an international scale for advanced reactor designs. According to a report in the Idaho Falls Post Register for May4, 2017, 18 reactor design groups have expressed interest in using a proposed nuclear reactor test facility at the INL and two of them have indicated they are ready to move their test operations to the site as soon as one of the 12 planned NuScale 50 MW modules is available. A spokesman for NuScale, which plans to build up to 12 50 MW small modular reactor units at the Idaho site, told the newspaper the first unit for its customer UAMPS, is slated to begin operation in 2026. Last December NuScale submitted their SMR design to the NRC for design certification, which is expected to take three-to-four years to complete. The umbrella concept for the test platform is to use one or possibly two of the 12 units as part of the INL’s joint proposal with NuScale and UAMPS for a “Joint Use Modular Plant.” The idea is that one or two of the 50 MW units, built after the first unit is in revenue service, would serve as a platform to test different applications of the SMR’s capabilities. Some of the potential applications that have been discussed being tested including using grids of SMRs to support resilient power for communities so that if one unit is offline, the others keep churning out electricity. With large 1000 MW units, if they go offline, a lot of expensive replacement power has to be obtaining right away. If it isn’t available because of demand, brownouts or blackouts can be the result. Some SMRs might have as their primary purpose providing steam for district heating replacing coal fired units or for desalinization of sea water. The most intriguing idea is to apply the test SMRs to support development of advanced reactor designs. To that end Terrestrial Energy, a Canadian firm, is reported to be in discussions with the INL to do test work there to develop its molten salt reactor design. The firm wants to take advantage of the INL’s site with its infrastructure and the fact that environmental reviews for this kind of project were completed for the NuScale project. Having access to the lab’s scientists and engineers is also a big plus. This kind of work is usually done on a cost-reimbursable basis which means that Terrestrial Energy would have to pay for any costs associated with using the site and having access to a future SMR. To this end Terrestrial Energy has applied for a Department of Energy loan-guarantee. However, to date the company is still working off of Series A financing packages and has yet to book an investor or a consortium in the $100M or greater range which would be needed to proceed with a prototype. Nevertheless, the firm has said its time to market for its novel design would be sometime in the 2020s. It announced ambitious plans last January it plans to submit its design to the NRC by 2019. In July 2016 Transatomic, a developer of an advanced nuclear reactor design, told this blog it also has approached the INL for possible use of test facilities there and to explore the potential to build its first prototype at the site. Transatomic has received a grant from the GAIN program at the INL for work on the specialized fuel that would be needed for its reactor design. The problem facing both Terrestrial Energy and Transatomic is that new reactor technologies much prove to utilities that they can be operated at a profit within the constraints of existing market realities or they will not be adopted. This requires extensive testing of designs and development of cost estimates that will attract equity investors and customers. The Idaho test facility, if built, may be able to speed up the process. It will need help from the Department of Energy as will the developers in public / private partnerships to succeed. A consortium of SMR developers has spelling out the elements of a commercial deployment program needed to stimulate new SMR generation sufficient for self-sustaining deployment. The program should be available through a combination of the following investment mechanisms: (full details here) SMR Trade Group Urges DOE to Use Their Reactors for Grid Stability The indisputable fact is that the nation’s electrical grid cannot run 100% on renewable energy. Both solar and wind are intermittent, and in order to keep the electrical grid stable, there has to be baseload demand. So far this stability has been provided by large 1000 MW nuclear reactors, as well as gas and coal fired conventional power plants. An industry consortium of small modular reactor (SMR) developers and customers has written to Secretary of Energy Rick Perry’to support his request for a departmental study on the nation’s energy security and grid reliability. Their main pitch is that if you want grid stabilty, and CO2 emission free baseload power, SMRs are the way to go. Plus they are a lot cheaper than the the full size reactors. For instance, at $4,000/KW, a 50 MW SMR would cost only $200M. In a multi-unit facility, like the one planned by NuScale for its customer UAMPS, the revenue from the first unit pays for the second and so on. This means the customer is not in a “bet the company” profile waiting for a 1000 MW unit costing $4 billion to come online. The challenge for SMR vendors is to get enough orders to shift production from a complex supply chain and one-at-a-time fabrication to a factory production line to achieve economies of scale. These facts are most likely unknown to the new energy secretary who’s background as a career politican hasn’t instilled much confidence in the industry, although it won’t say that in public. So starting with the obvious, the in May 2 letter the SMR Start consortium highlighted the role that nuclear energy plays in securing the nation’s baseload power diversity and grid stability. “Nuclear energy is reliable baseload power that generates nearly 20 percent of U.S. electricity and is a major reason we benefit from affordable electricity prices today,” the letter said. Perry’s memo to his staff expressed concerns about the potential erosion of the diversity of critical baseload resources, and asked for a 60-day study into how federal policy interventions may be distorting wholesale electricity markets. He also asked whether some attributes of baseload power sources that strengthen grid reliability are being adequately valued and compensated in wholesale electricity markets, and the extent to which “market-distorting” federal subsidies may “boost one form of energy at the expense of others.” This last item is clearly aimed at the need to value the zero carbon emissions profile of the nation’s nuclear fleet. A number of otherwise fully operational nucler reactors have closed due to market conditions that undercut their ability to operate at a profit. They include reactors in Nebraska, Wisconsin, and Vermont, among others. SMR Start’s letter points out that with regard to nuclear energy, the markets are not fully valuing its unique combination of benefits, including “grid reliability, on-site fuel supply, technology diversity, carbon-free generation and long-term price stability.” The letter recommends that the U.S. Department of Energy implement policy solutions to “level the playing field” for the deployment of new reactors, as well as to preserve existing nuclear facilities. This means rate structures have to be set up that will provide confidence for investors to put up the money to developa and deploy new SMRs for commercial use. SMRs, which are expected to begin operating in the mid-2020s, will feature “the ability to better match new generation capacity with electric demand growth, enhance grid reliability through load following in areas with high penetration of intermittent renewables, and the ability to be deployed in diverse applications.” “Federal support for SMRs will continue to be needed in 2018 and over the next several years in order to bring this technology to market in time to meet future energy demands.” SMR Start’s policy paper further recommends that DOE and the U.S. Department of Defense establish programs to develop SMR-powered microgrids that can power remote locations independent of the main grid, making them “less vulnerable” to natural phenomena and intentional acts. TVA Not Bullish on SMRs but Keeps Options Open The Knoxville News reports on May 2 that while TVA has filed an application for an Early Site Permit (ESP) for a small modular reactor at its Clinch River site, it does not feel the technology nor the utility are ready to move ahead with one. The quasi-governmental utility also has a problem with debt ceiling that makes it wary of taking on new capital intensive projects with unknown costs. According to the Knoxville News report, a TVA executive told the newspaper the utility is taking a wait-and-see attitude towards SMRs. He said that the utility has no commitment to build an SMR, but will seriously consider its options once it sees that there is a cost effective design available. For that to happen, he said, the industry would have to have shifted from one-at-a-time unit by unit construction to the production of whole reactor systems in factories. The design would have “to be self-contained and not need much of the infrastructure of a site built reactor.” TVA’s doesn’t specify what kind of SMR technology nor a preferred reactor vendor. NRC spokesman Scott Burnell told the newspaper the agency only requires that the application shows that the site is capable of supporting a “generic set of nuclear power plant characteristics.” (China Daily) The first pilot project to use China National Nuclear Corporation’s 125 MWe ACP100 small modular nuclear reactor has completed its preliminary design stage and is qualified for construction in Hainan province. The Linglong One is the first reactor of its kind in the world to have passed the safety review by the IAEA. ( October 2016 IAEA briefing slides PDF file on capabilities and expected uses) The company said that the ACP100, China’s first small modular reactor (SMR) developed by CNNC for practical use is expected to be built at the end of this year in the Changjiang Li autonomous county of Hainan. Qian Tianlin, general manager of China Nuclear New Energy Investment, said that small-scale nuclear reactor technology has reached a stage at which it can be used on a pilot basis. It can be used to generate heat for a residential district replacing coal-fired boilers and for grid stability in a mesh network. Qian said he expects mass production of the small modular reactors after the pilot project in Hainan is up and running, and for the technology to be exported globally.


— One trend in the nuclear fuels market is development of next-generation nuclear reactors. An international task force has been assigned to develop six nuclear reactor technologies, of which four are fast neutron reactors, with the deployment target spanning 2020-2030. All these new reactors will operate at a much higher temperature than reactors those currently in use. Complete report on nuclear fuels market spread across 70 pages, analyzing 5 major companies and providing 51 data exhibits are now available at http://www.reportsnreports.com/reports/994467-global-nuclear-fuels-market-2017-2021.html. According to the nuclear fuels market report, one driver in the market is overdependence on fossil fuels. Today, energy security is one of the key areas on the national agenda of any country. Since the discovery of the commercial uses of oil and natural gas in the late 18th and early 19th centuries, the dominance of fossil fuels has only grown. Fossil fuels, at present, account for more than 80% of the world's energy demand. Global energy demand is expected to increase by 35% by 2020, and fossil fuels are projected to meet 75% of this increased demand. The following companies as the key players in the global nuclear fuels market: ARMZ Uranium Holding Company, Cameco, Energy Resources of Australia, Japan Oil, Gas and Metals National Corporation, KazAtomProm. Other prominent vendors in the market are: Anglo-Canadian Mining Corp, AREVA, Azimut Exploration, Bannerman Resources, Berkeley Energia, BHP Billiton, CANALASKA URANIUM, China National Nuclear Corporation, China General Nuclear Power, Denison Mines, Eagle Plains Resources, Forsys Metals, Globex Mining Enterprises, International Montoro Resources, Rio Tinto, NMMC, Paladin Energy, URENCO and Vattenfall. Order a copy of Global Nuclear Fuels Market 2017-2021 report @ http://www.reportsnreports.com/purchase.aspx?name=994467. Global Nuclear Fuels Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the global nuclear fuels market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. Further, the nuclear fuels market report states that one challenge in the market is construction delays and cost overruns. Nuclear reactor construction has unique features, which include variable project portfolio, process, and stringent security and safety measures. All these factors directly affect the cost schedule of the project. An improper estimation may lead to price escalation as the project progresses. The increase in project cost directly affects the profitability of vendors as any construction delay is the responsibility of the operator. Almost two-third of the nuclear reactors under construction is facing delays. The nuclear fuels market study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. About Us: ReportsnReports.com is your single source for all market research needs. Our database includes 500,000+ market research reports from over 100+ leading global publishers & in-depth market research studies of over 5000 micro markets. With comprehensive information about the publishers and the industries for which they publish market research reports, we help you in your purchase decision by mapping your information needs with our huge collection of reports. For more information, please visit http://www.reportsnreports.com/reports/994467-global-nuclear-fuels-market-2017-2021.html


News Article | May 3, 2017
Site: motherboard.vice.com

This is a series around POWER, a Motherboard 360/VR documentary about nuclear energy. Follow along here. As Chinese Premier Li Keqiang stood alongside Justin Trudeau at Parliament's centre block in September, a quiet confidence was growing in Canada's nuclear industry. The Prime Minister and the Chinese leader were overseeing a signing ceremony between the China National Nuclear Corporation (CNNC) and Canadian engineering giant, SNC-Lavalin, which owns CANDU technology. The agreement will see two next-generation CANDU nuclear reactors installed about 100 kilometres southwest of Shanghai, and could transform nuclear power. Canada's nuclear industry is on the upswing, partly because of a global push to cut greenhouse gas emissions. The deal with CNNC is part of that. Teams here are developing advanced nuclear technologies that will ideally help wean us off fossil fuels, which is one reason many environmentalists are starting to embrace nuclear. Watch more from Motherboard: Going Nuclear If all goes according to plan, the CANDU reactors slated for the Qinshan nuclear site will be powered by what the industry calls advanced fuels: reprocessed uranium recycled from conventional reactors, and later, the radioactive element thorium, said Justin Hannah, Director of Marketing, Strategy and External Relations for SNC's CANDU division. Only a handful of sites in Europe and Japan are able to reprocess uranium today, and there is no standard on how to reuse it as a fuel, so it's not widely used. Even so, it has the potential to reduce stockpiles of radioactive waste and make countries that use it less dependent on uranium imports. CANDUs could start using thorium, with China's backing, putting the world closer to what proponents call the thorium dream Thorium has its own advantages when compared to uranium: it's about three times more abundant and can provide just as much power, plus it's far less useful for making nuclear weapons, mainly because its fuel cycle doesn't produce plutonium. But thorium is notoriously difficult to mine. Using it as a fuel is also complex, so reactor designs and supply chains aren't readily available. The fact that CANDUs could start using thorium, with China's backing, may put the world closer to what proponents call the thorium dream of safer, cleaner and more abundant nuclear power. China currently has 36 nuclear reactors in operation, another 21 under construction, and wants to double its nuclear power generation by 2021. Most of the existing reactors are conventional pressurized water reactors that run on enriched uranium, but the country is moving aggressively towards advanced reactor designs that can make use of the spent uranium from their current reactors, and the growing stockpiles of thorium that are a byproduct of mining for rare earth elements, a market that China dominates. China has a growing appetite for carbon-free energy, and the government has declared war on pollution from coal-fired power plants, so nuclear makes sense. But Canada's technology could also be of strategic value. "They have the thorium, they have the spent uranium," said Hannah. This country stands to benefit from the agreement with China, too. If we get this joint venture right, "Canada's nuclear industry could be seen as world leaders," said Jerry Hopwood, President of the University Network of Excellence in Nuclear Engineering, a partnership between 12 Canadian universities, government, and Canada's nuclear industry. The new Chinese-Canadian commercial entity is expected to be registered in China by mid-2017, with pre-construction work beginning in 2019 and 2026 targeted for the first AFCR to be operational, said Hannah. Thorium could be in use in the 2030s. As for whether Canada could one day switch to thorium, we've got large, high-quality uranium reserves, so any move to bring a thorium-powered AFCR here will depend on both politics and economics. "There's no strong economic driver for it," argued John Luxat, a nuclear safety expert at McMaster University. "The utilities don't want to switch over, but it's nice to know that we could." After what Hopwood called a lull in Canada's industry in the early 2000s, he believes recent investments and the push for carbon-free power show there's a resurgence in nuclear. The industry got a boost in 2016 from Ontario's support for the refurbishment of the Darlington nuclear plant, and the 2015 plan to extend the life of Bruce Power's nuclear reactors—each project projected to cost about $13 billion. Apart from that, SNC may be building another CANDU reactor in Argentina. Canadian nuclear startups are also chasing new technologies. Terrestrial Energy has plans to build a commercially-viable molten salt reactor (MSR) by the 2020s. Read More: The Plan to Build a Million-Year Nuclear Waste Dump on the Great Lakes Since the concept was first developed at the Oak Ridge National Laboratory in the 1960s, it's been touted as a safer alternative. Terrestrial's small, modular design is targeted at remote communities and providing carbon-free power directly to heavy industrial installations. The nuclear fuel used in an MSR is liquid, so it can't melt down, and it's chemically bound to the molten salt coolant. That means a loss of coolant, like the one that happened at the Fukushima nuclear plant in 2011, isn't possible, said Canon Bryan, Terrestrial's co-founder. Watch more from Motherboard: The Thorium Dream The molten fuel is highly corrosive, so MSRs still need further development to be proven safe. But the company has garnered nearly $30 million in investment, among other undisclosed grants, and Terrestrial's application to the US government for a $1 billion loan guarantee through its US subsidiary is advancing well, said Bryan. While Terrestrial's MSR design could potentially use thorium fuel in the future, the goal of becoming commercially viable as soon as possible means that the company will be sticking with uranium for now, since it's well-understood by the industry. "The conversation is changing," said Jerry Hopwood. "The fact that Canada is serious about dealing with climate change [has] put nuclear in a good position." Subscribe to Science Solved It, Motherboard's new show about the greatest mysteries that were solved by science.


News Article | June 13, 2017
Site: globenewswire.com

RELEASE OF INTERIM REPORT AND FINANCIAL STATEMENTS The Directors announce the release of the Interim Report and Financial Statements for the Six Months to 31 March 2017. During the first few months of the six month period under review there was a sharp rise in the underlying spot price of uranium as the prospect of a production cut in mining from Kazakhstan gave investors hope that uranium mining may become profitable once more. Uranium equities rallied strongly on the back of this news and by mid-February 2017 your Company's NAV had risen some 70 per cent since the start of October 2016. Unfortunately doubts about the continuation of production cuts and sluggish attempts by Japan to restart their nuclear plants put paid to the bullishness of the market and prices fell back towards the end of March. Despite the sell-off the Company's net asset value rose by 28.4 per cent over the six months with good returns seen from stocks such as NexGen. The Company's share price rose by 44.7 per cent over the six months and as a result the discount contracted to 11.7 per cent at the end of March. I would like to thank Shareholders for continuing to support the Company and for ensuring that the annual Continuation Vote was passed at the Annual General Meeting in March. Although there has been a fall back recently the sharp rise in share prices and asset values earlier this year reinforces the Board's view that this unique sector is still severely undervalued. The Board of Geiger  Counter Limited have recently announced that it is reviewing, with its advisers, a potential bonus issue of subscription shares to existing shareholders on the basis of one subscription share for every two existing ordinary shares held on the record date for the bonus issue. We expect to issue a Circular in the near future with full details of this proposal. The most significant event to influence the sector during the interim period was the announcement by the Kazakh state-owned uranium mining company, Kazatomprom, in mid-January that it would cut national production by 10% during the calendar year 2017 and that it is willing to make further cuts if necessary to rebalance the market. By implication, nearly all mine production is currently uneconomic. We believe this telling shift to a more commercially minded strategy by the lowest cost and largest global uranium producer, that has a market share of approximately 40%, represents a fundamental turning point that will allow the oversupplied market to rebalance. This move by the market's dominant producer outweighs the prior curtailment already undertaken by commercial western mine operators. Over the interim period the spot uranium price rose 7% in sterling terms, though behind this improvement there was considerable volatility. Prices initially declined around 20% into December, arguably prompting Kazakhstan's decision to cut output which drove a strong 50% rally to US$26.75/lb by mid-February. Prices subsequently retreated to US$23.25/lb by end-March. NAV performance mirrored this trend. Again helped by the significant weighting to Western Athabasca explorers, notably NexGen, the Fund NAV increased 42.9% over the half-year. This compares to sterling returns of around 31% for both the Solactive Uranium Index and URA equity ETF. Kazatomprom's strategy is particularly important given the sluggish pace of Japanese reactor restarts since the Fukushima accident in 2011. Latterly, however, news from Japan has been more encouraging with more facilities being approved for reactivation, suggesting restart momentum is improving. An attempt by TEPCO's to extract itself from costly legacy purchase agreements with Canada's largest uranium producer, Cameco, may place greater financial burden on the Japanese government to provide additional funding assistance to foot the potential US$1bn bill should it fail. In-so-doing this may spur further central government efforts to switch reactors back on. Cameco will further curb annual mine output in response to TEPCO's move. While efforts by TEPCO, which owns the Fukushima facilities, highlight its specific need to reduce its uranium inventory, the broader contracting cycle for the nuclear power industry worldwide will need to accelerate. Currently long-term contracted volumes are around 75% below the levels at the height of the 2005 bull market. As illustrated by the supply curtailment and retrenchment of commercial mine operators over the last two years, high priced legacy contracts signed in the previous bull market are beginning to roll-off but will need to be replaced. A similar situation also exists for enrichment market and an increase in facility utilisation will also act to reduce oversupply. There still appear to be doubts as to whether Kazakhstan will maintain the cuts beyond the end of this year as illustrated by expectations of market consultant UxC which forecasts only partial supply cuts during the next two years. As a result initial enthusiasm following the Kazakh announcement has dissipated and much of the immediate uranium price improvement has unwound. However, following discussions with consultants that have helped Kazatomprom adopt more commercial practices we believe the region is open to making deeper and longer lasting cuts in order to rebalance the market. In addition we believe a proportion of the region's uranium output may be retained to use as trading inventory, potentially removing immediately available material from the market and providing some relief to spot pricing. Latterly the LNG market has become increasingly competitive as US shale output rises. Falling LNG prices in Asia may also have weighed on uranium sentiment and spot prices though importantly long-term U3O8 contract prices have remained little changed at US$31/lb and continue to trade at a significant premium to the spot price with a premium provided for longer-term security of supply. Japanese LNG buyers are believed to be pushing hard for lower prices but also shorter, more flexible contracts which may also reflect a requirement for flexibility should momentum on the country's nuclear restart programme improve as recent news suggests. Crucially, Japanese and US installed nuclear power generating costs, as elsewhere, remain competitive with gas power generation at current commodity prices. China's focus on air quality remains a key long-term driver for uranium demand, as a meaningful source of zero carbon base load power. China's initial focus on closing inefficient coal power stations and metal smelters to reduce chronic air pollution emissions is likely to be a multi decade theme extended by an emerging middle class seeking to improve health and quality of life. Given the population's sensitivity to this issue political impetus to the industry's expansion is likely to remain high. Importantly, in addition to the political motivation to develop nuclear generating capacity China's replicable reactor design is providing significant cost benefits allowing power generation operate at a lower all-in cost per KWh than a comparable coal power station fitted with scrubbers and flue gas desulphurisation to reduce emissions. This is will provide an important competitive foundation for China's future domestic and international expansion plans. China currently has 36 operating reactors, 21 in construction and more expected to start construction shortly and remains the primary growth driver for nuclear power. China expects to generate 58GWe by 2020-21 and 150GWe by 2030, with 6-8 reactors being approved each year. These are predominantly going to incorporate latest Generation III technology that have longer lives and improved security features relative to previous reactor models that make up the majority of the current global reactor fleet. In addition, China is seeking to establish international export credentials for its capability. As example, China National Nuclear Corporation has now signed contracts to build reactors in Pakistan and Argentina, whilst utility China General Nuclear is working with EDF to progress development of Hinkley Point in the UK. The two main western constructors, Areva and Westinghouse, are currently mired in debt which is stymying their ability to sign new reactor construction contracts. The success of these reactor build outs will provide a stage to showcase the ability of CNNC and CGN to export reactors globally in the future. For further information please contact:


News Article | June 13, 2017
Site: www.marketwired.com

REDONDO BEACH, CA--(Marketwired - Jun 13, 2017) - SECFilings.com, a leading financial news and information portal offering free real-time public company filing alerts, announces the publication of an article discussing why Argentina's business-friendly president and a move to sustainable energy bode well for Blue Sky Uranium Corp. (TSX VENTURE: BSK) ( : BKUCF). Argentina's businesses suffered for years under the populist regime that imposed high taxes and limitations on investors. With the election of Macri in 2015, the country has begun the process of opening up the mining industry to foreign investors. Analysts believe that more than $400 billion worth of minerals exist underground and first-movers in the country may be the best positioned to capitalize on the opportunity. Macri Looks to Boost Mining President Mauricio Macri's center-right government has been a strong supporter of business. Since taking office in 2015, he has pushed to attract foreign investment and spur growth after more than a decade of populist policies that have derailed its financial markets. The country's economy has fallen behind Chile and Peru in attracting mining investments despite its rich deposits of copper, gold, silver, and zinc, as well as potentially uranium. Macri has already been successful in lifting export taxes and a prohibition on foreign companies moving profits overseas. And earlier this month, the country announced an agreement with provincial governors to unify policies regulating the mining sector. Seven of the country's 23 provinces prohibit certain practices that are crucial to the industry -- including open-pit mining and the use of cyanide for extraction -- which has contributed to its underperformance. Analysts believe that Argentina has more than $400 billion in untapped mineral resources underground, which represents a significant opportunity for private companies if the government reforms its practices. The Grosso Group, a private management company founded in 1993, is among the largest in the space, managing Golden Arrow Resources Corporation, Argentina Lithium & Energy Corp, and Blue Sky Uranium Corp. Supportive of Renewables The nuclear power industry may be dominated by large countries like the United States, but Argentina has become a leader in South America. The country has three nuclear reactors that generate about 10% of its total electrical demand, according to the World Nuclear Association. In addition to these reactors, the country is actively developing a small locally-designed power reactor prototype (CAREM-25) in an effort to advance its domestic industry. In 2015, Argentina signed a $15 billion deal with China National Nuclear Corporation for the construction of its fourth and fifth nuclear power plants. These plants are expected to take eight years to build from the signing of the agreements, but the process could be expedited as the government seeks to meet its renewable energy goals. The country signed an unconditional commitment to reduce CO2 emissions by 15% by 2030. Despite this growing nuclear presence, the country has no domestic supply of uranium and is forced to import the raw materials needed to power the plants. The upshot is that the Argentine National Atomic Energy Commission (CNEA) estimates that there are some 55,000 tU worth of uranium in "exploration targets" in several different geological environments. This could create a significant opportunity for private companies as the mining industry is opened up to investors. Well Positioned to Profit Blue Sky Uranium is developing uranium projects in the Rio Negro Province where mining is relatively developed. As of 2009, Grosso Group signed an AIP for a Strategic Alliance with the government for exploration and exploitation. This has helped the company sidestep many of the mining issues in other provinces as the Macri administration looks to open up the industry, which in turn gives the company a valuable head start. The Amarillo Grande Project has a 140-kilometer long stretch of uranium mineralization that's near surface, very good grade, leachable, and potentially upgradeable at a low cost. Management believes that the property has the potential to host a multi-million pound uranium resource that could be developed with a short lead time to become a leading domestic uranium supplier with expansion and export potential. Please follow the link to read the full article and see the interview: http://analysis.secfilings.com/articles/180-blue-sky-uranium-s-perfect-storm About SECFilings.com Founded in 2004, SECFilings.com provides free real-time filing alerts to over 600,000 registered members and offers services to help public companies grow their audience of interested investors. Disclaimer Except for the historical information presented herein, matters discussed in this release contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Emerging Growth LLC, which owns SECFilings.com, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. Emerging Growth LLC may from time to time have a position in the securities mentioned herein and may increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice. Emerging Growth LLC may be compensated for its services in the form of cash-based compensation or equity securities in the companies it writes about, or a combination of the two. For full disclosure please visit: http://secfilings.com/Disclaimer.aspx.


News Article | April 19, 2016
Site: www.technologyreview.com

The charges against a U.S. citizen come, strangely, just as the Department of Energy is collaborating with China on advanced reactors. In a case that sounds like the plot of an espionage novel, a naturalized U.S. citizen born in China was indicted last week on charges of illegally sharing information on commercial nuclear reactors with a major Chinese nuclear power company. The nuclear engineer, Szuhsiung “Allen” Ho, recruited a ring of nuclear engineers—unnamed in the indictment—to “unlawfully engage and participate in the production and development of special nuclear material outside the United States” and to help develop China General Nuclear Power Company’s ACPR-100, a small modular reactor design, and provide computer codes for modeling reactor operations. The engineers, one of whom was a senior manager at the Tennessee Valley Authority, were paid by China General, through Ho, according to the indictment, but it is not clear whether they understood that Ho was breaking the law. The charges come just two weeks after the White House hosted a summit on nuclear security that was attended by Chinese head of state Xi Jinping. “Budget is no issue,” Ho wrote to one of the engineers in an e-mail quoted in the indictment. China General Nuclear Power is also charged, along with Ho, with violating the Atomic Energy Act. The illegal technology transfers allegedly went on for nearly two decades. Many of the details of this extraordinary case, including just how the U.S. Department of Justice plans to prosecute a Chinese company, are not yet clear. Two aspects, however, are worth highlighting. First, as Bloomberg points out, China General is a state-owned corporation and a key player in China’s drive to become a leading supplier of nuclear reactors and components around the world. China General recently established a joint venture with China National Nuclear Corporation, another state-owned enterprise, to build at least 30 Hualong One reactors, a home-grown design, in Asia and Europe. Secondly, the charges against Ho and China General come even as the U.S. Department of Energy is actively collaborating with the Chinese Academy of Science on advanced reactor designs. Ho’s activities were unauthorized and, as such, illegal. But it’s important to note that even as the U.S. government is prosecuting a citizen for conspiring to “secure an advantage to the People’s Republic of China,” another federal agency is helping China’s nuclear power R&D program.


News Article | February 21, 2017
Site: www.businesswire.com

New AREVA[i] (Paris:AREVA) et son partenaire chinois China National Nuclear Corporation (CNNC) ont signé aujourd’hui à Pékin, en présence du Premier ministre de la République populaire de Chine, M. Li Keqiang, et du Premier ministre de la République française, M. Bernard Cazeneuve, un accord-cadre de coopération industrielle et commerciale. Aboutissement de la coopération historique entre AREVA et CNNC, ce contrat porte sur les activités du cycle du combustible nucléaire. Il conforte les négociations industrielles en cours entre New AREVA et CNNC (notamment le projet commercial d’une usine de retraitement-recyclage) et ouvre la voie à de nouveaux débouchés industriels et commerciaux entre les deux pays. New AREVA valorise les matières nucléaires afin qu’elles contribuent au développement de la société, en premier lieu dans le domaine de l’énergie. Le groupe propose des produits, technologies et services à forte valeur ajoutée sur l’ensemble du cycle du combustible nucléaire qui couvre les activités mines, chimie de l’uranium, enrichissement, recyclage des combustibles usés, logistique, démantèlement et ingénierie. New AREVA et ses 20 000 collaborateurs mettent leur expertise, leur maîtrise des technologies de pointe, leur recherche permanente d’innovation et leur exigence absolue en matière de sûreté et de sécurité au service de leurs clients en France et à l’international.


News Article | February 21, 2017
Site: www.businesswire.com

New AREVA1 (Paris:AREVA) and its Chinese partner China National Nuclear Corporation (CNNC) signed today in Beijing, in the presence of the Prime Minister of People's Republic of China, Mr. Li Keqiang, and the Prime Minister of the French Republic, Mr. Bernard Cazeneuve, a framework agreement for an industrial & commercial cooperation. Fruit of the long-standing cooperation between AREVA and CNNC this agreement covers the nuclear fuel cycle activities. It supports the on-going industrial negotiations between New AREVA and CNNC (Chinese commercial reprocessing-recycling plant project in particular) and opens up new industrial and commercial opportunities for both sides. This agreement is a key step in the deepening of the civil nuclear energy cooperation between France and China, and aligns with the expectations set by the two governments in their Joint Statement on Civil Nuclear Energy Cooperation of June 30, 2015. Meanwhile the capital of New AREVA remains open for an investment of CNNC within the same framework as the agreements currently being finalized with two investors. MORE ABOUT NEW AREVA New AREVA transforms nuclear materials so that they can be used to support the development of society, first and foremost in the field of energy. The group offers products, technologies and services with high added value throughout the entire nuclear fuel cycle, with activities encompassing mining, uranium chemistry, enrichment, used fuel recycling, logistics, dismantling and engineering. New AREVA and its 20,000 employees bring to bear their expertise and their mastery of cutting-edge technology, as well as their permanent search for innovation and their unwavering dedication to safety, to serve their customers in France and abroad. 1 Entity bringing together all of AREVA's nuclear fuel cycle activities


News Article | February 15, 2017
Site: www.marketwired.com

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 15, 2017) - GoviEx Uranium Inc. (TSX VENTURE:GXU) ("GoviEx" or "Company") is pleased to announce it has engaged Houlihan Lokey EMEA, LLP as financial advisor to assist the Company with the securing of potential long-term off-take agreements in relation to its Madaouela Uranium Project ("the Madaouela Project") in Niger. "We believe there is potential for a substantial wave of new contracting for long-term uranium supply to commence in response to growing demand for carbon-free nuclear energy and the existence of uncovered utility requirements," commented Govind Friedland, Executive Chairman of GoviEx. "In the past two months, the spot price of uranium has risen by more than 40%." "We also expect long-term contract prices to rise to a point where floor-price-based off-take agreements will provide good economics for our Madaouela Project(1). We look forward to working with the Houlihan Lokey team in this regard as we continue to move towards the planned development of the Company's fully-permitted Madaouela Project." The engagement of Houlihan Lokey represents part of an integrated four-part strategy developed by the Company to advance the Madaouela Project, and follows the previously announced appointment of Medea Capital Partners Ltd. as a project debt advisor. The four-part strategy, working towards a production decision, includes: The Houlihan Lokey team has considerable experience in the uranium and nuclear energy sectors, having worked with companies such as Paladin Energy, Électricité de France S.A. (EDF), AREVA, Kazatomprom and China National Nuclear Corporation (CNNC), over the past 10 years. GoviEx is a mineral resource company focused on the exploration and development of uranium properties. GoviEx's principal objective is to become a significant uranium producer through the continued exploration and development of its Mine Permitted Madaouela Project and its other uranium properties in Africa. Houlihan Lokey is a global investment bank with expertise in mergers and acquisitions, capital markets, financial restructuring, valuation, and strategic consulting. The firm serves corporations, institutions, and governments worldwide with offices in the United States, Europe, and the Asia-Pacific region. This press release may contain forward-looking information within the meaning of applicable securities laws. All information and statements other than statements of current or historical facts contained in this press release are forward-looking information. Forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in GoviEx's periodic filings with Canadian securities regulators. When used in this news release, words such as "will", "could", "plan", "estimate", "expect", "intend", "may", "potential", "should," and similar expressions, are forward-looking statements. Information provided in this document is necessarily summarized and may not contain all available material information. Forward-looking statements include, without limitation, statements regarding the potential for a substantial wave of new contracting for long-term uranium supply to commence in response to growing demand for carbon-free nuclear energy and the existence of uncovered utility requirements, GoviEx's expectations for long-term contract prices to rise to a point where floor-price-based off-take agreements will provide good economics for our Madaouela Project, the potential for GoviEx to enter into off-take agreements, the planned integrated four-part strategy working towards a production decision for the development of the Madaouela Project and other statements that are not facts. Forward-looking statements are based on a number of assumptions and estimates that, while considered reasonable by management based on the business and markets in which GoviEx operates, are inherently subject to significant operational, economic and competitive uncertainties and contingencies. Assumptions upon which forward looking statements have been made include that there will continue to be growing demand for carbon-free nuclear energy and the existence of uncovered utility requirements that may result in a substantial wave of new contracting for long-term uranium supply to commence, long-term contract prices will rise to a point where floor-price-based off-take agreements will provide good economics for the Madaouela Project, GoviEx will be able to secure one or more long-term off-take agreements for its Madaouela Project with the help of Houlihan Lokey and that the securing of such long-term off-take agreements will meet one part of GoviEx's integrated four-part strategy to advance the Madaouela Project towards a production decision. In addition, the factors described or referred to in the section entitled "Financial Risks and Management Objectives" in the MD&A for the year ended December 31, 2015, of GoviEx, which is available on the SEDAR website at www.sedar.com, should be reviewed in conjunction with the information found in this news release. Although GoviEx has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, including if there is no increased demand or a reduced demand for carbon-free nuclear energy and less than expected uncovered utility requirements, long-term contract prices do not rise or fall, the parties are unable to secure long-term off-take agreements as anticipated or at all, the failure to meet the targeted timelines of GoviEx's integrated four-part strategy that is anticipated to allow GoviEx to be in a position to make production decision, if any. There can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the appointment of Houlihan Lokey could be modified, restricted or terminated, and the results or events predicted in these forward-looking statements may differ materially from actual results or events. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this news release, and GoviEx disclaims any intention or obligation to update or revise such information, except as required by applicable law, and GoviEx assumes no any liability for disclosure relating to the other company herein. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


News Article | March 11, 2016
Site: www.reuters.com

A nuclear power plant station model by China National Nuclear Corporation is pictured at the World Nuclear Exhibition 2014, the trade fair event for the global nuclear energy sector, in Le Bourget, near Paris October 14, 2014. Beijing, which began stockpiling uranium in 2007 and is estimated by the World Nuclear Association to have 74,000 tons of inventory - or about nine years of current demand - does not disclose details of its reserves. However, demand is expected to outstrip domestic supply in coming years and a move to increase reserves could give a boost to depressed global prices. "We have been importing over the last few years when the price has been low," said Sun Qin, chairman of the state-owned nuclear project developer, the China National Nuclear Corporation, adding the time was right to build up stockpiles. In its five-year plan released this week, the government said it would "expand the scale of natural uranium reserves", likely signaling the construction of new storage facilities as with oil six years ago. The Shanghai Nuclear Power Office estimates China's natural uranium demand is likely to reach 11,000 tons by 2020, and rise to 24,000 tons in 2030, outstripping production from domestic mines and China-owned mines overseas. The shortfall was expected to rise from 2,600 tons in 2020 to about 10,900 tons a decade later, it said. Increased uranium stockpiles would ensure China would not be at the mercy of supply disruptions or short-term fluctuations in market prices. The latest five-year plan also confirmed the country's intention to double its nuclear generation capacity to 58 gigawatts (GW) by the end of 2020, up from 28.3 GW at the end of last year, slightly less than 2 pct of total generation capacity. To meet the target, China, which currently has 30 operating reactors, will need to build around six new reactors a year, although it is expected to build well over 100 new units by 2030 as it tries to ease its dependence on fossil fuels and create a nuclear energy industry capable of competing globally. The 58 GW target will raise China's uranium demand to about 15 percent of the global market, according to the World Nuclear Association. Uranium prices have fallen to around $31 a pound, less than a quarter of the levels seen in 2007 when China first began stockpiling. "It's at least a short-term positive for uranium prices," said Simon Tonkin, an analyst for Patersons Securities in Perth, of the latest plan. "But longer term, it could mean they are not going to be buying as much. By building up the stockpile now, they are getting uranium at a cheap price." Sun said prices have been hit by the closure of plants in Europe and the United States following the 2011 Fukushima nuclear disaster, and the collapse in oil prices. Cheap prices had enabled China to buy up mining assets, but they also discouraged exploration. "We are exploring for uranium resources in Africa, in Namibia and in Mongolia, but with the price too low, there's no way of exploiting them," he said. Sun would not disclose the size of his firm's corporate reserves or total national reserves. Li Ning, dean of the School of Energy Research under Xiamen University and an expert in nuclear power, said it made sense to import more uranium but domestic supplies were also substantial. "China has large enough verified deposits, higher than we originally expected. Fuel use is small in a plant ... so [increased demand] won't impact the price since the market is oversupplied," he said.

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