A recent industry report published by China Nuclear Geology, a subsidiary of the China National Nuclear Corporation (CNNC), reveals that China has made remarkable strides in expanding its uranium resources. Over the past ten years of extensive survey and exploration work, China has added one-third of its total known uranium resources accumulated in the past 68 years. Notably, 70 percent of the newly discovered resources are deemed extractable, offering a promising supply of natural uranium.
The success in surveying and exploration, considered the frontend of the nuclear fuel cycle, has played a crucial role in securing a stable and highly effective supply of natural uranium for China’s nuclear industry. As the nation intensifies efforts to enhance mineral supply security through a national campaign, the significant growth in uranium resources ensures that China can firmly control its own destiny in this crucial area.
According to the latest assessment, China now boasts over 2.8 million tons of natural uranium resources, demonstrating the country’s vast potential in domestically securing its fuel supply amid complex global situations.
The industry report highlights the identification of one super-size sandstone mine and five large-size mines during the survey period. Moreover, the country has maintained a dynamic surveying capacity of 1 million meters per year.
The substantial increase in nuclear fuel supply has not only bolstered China’s national and energy security but has also solidified the country’s status as a “uranium-rich country,” contributing to its influence in the global arena.
Experts emphasize that the newly found uranium reserve serves as a critical pillar for domestic supply, ensuring stability in international prices, particularly as risks escalate due to the US’ ongoing crackdown and containment efforts against China. The robust expansion of uranium resources is seen as a strategic “ballast stone” in safeguarding China’s energy needs and countering external pressures.
“Through capacity building and tapping the latest technologies … China’s uranium supplies can ensure its nuclear fuel security,” Li Ziying, a top expert with CNNC, told the Global Times.
As the world shifts toward cleaner energy resources and countries move in the direction to strive for carbon neutrality, the competition over uranium, used to power nuclear plants and for national defense weapons, is intensifying with major countries competing over control of supplies.
Uranium demand is set to climb from 162 million pounds in 2021, to 206 million pounds by 2030 and 292 million pounds by 2040, per forecast of the World Nuclear Association.
China is expected to run the world’s largest nuclear power plant fleet before 2030 and nuclear power is set to account for 10 percent of all electricity generation by 2035, according to a separate industry report in April.
A survey and exploration facility of uranium of China National Nuclear Corporation (CNNC) File photo: Courtesy of CNNC
China’s nuclear fuel came from a mix of its nuclear fuel supply by domestic extraction, equity investment and mining rights in overseas mines and purchase on the open market.
In January, China launched Asia’s only natural uranium bonded warehouse at Alashankou Port in Northwest China’s Xinjiang region, after two years’ preparation. Phase two of the warehouse, which has the function of storing, digitalization and trading, is set to be put into operation in 2024.
The uranium report is published as China is in the midst of a new round campaign to seek strategic mineral resources from within the country.
From 2011 to 2020, China discovered 17 major oilfields with reserves of over 100 million tons and 21 major gas field with reserves of over 100 billion cubic meters, according to Xinhua.