Uranium Demand Rising as China `Piles Up' Contracts, Paladin Energy Says

Paladin Energy Ltd., the Australian mining company producing uranium in Africa, expects prices to keep rising as China drives demand for nuclear fuel.
China has “piled up” contracts to import uranium, Paladin Chief Executive Officer John Borshoff told analysts on a call today. “Although they have sucked a chunk out of new production, they are nowhere near their target of acquiring in the vicinity of 45 to 50 million pounds per annum by 2020.”
Paladin, which operates the Langer Heinrich mine in Namibia and the Kayelekera project in Malawi, forecasts increasing uranium demand as countries such as China expand the use of nuclear power to curb emissions from burning coal. The Perth- based company aims to double uranium oxide output to almost 14 million pounds by 2016 from a projected 7 million pounds in the year ending June 30, 2011.More at:

http://www.bloomberg.com/news/2010-11-16/paladin-energy-chief-executive-borshoff-says-demand-for-uranium-escalating.html

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AES plans $15bn spending spree in India to raise power generation capacity

AES, the US utility with operations in 29 countries, plans to spend as much as $15bn to increase capacity in India and get 10 per cent of its revenue from the South Asian nation in five years.

“A big part of that would be financed by banks,” Chief Executive Officer Paul Hanrahan said in an interview in New Delhi, reported Bloomberg. “The equity piece would be about $4bn to $5bn.”

Prime Minister Manmohan Singh’s government plans to tap private investments as it plans to double infrastructure spending in India to $1 trn in the five years ending 2017. Asia’s second-biggest energy consumer is adding electricity- generation capacity to reduce blackouts and fuel an economy that grew at the fastest pace in more than two years in the three months ended 30 June. More at:

http://www.powergenworldwide.com/index/display/articledisplay/2325682286/articles/powergenworldwide/coal-generation/new-projects/2010/11/aes-plans__15bn_spending.html

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Kepco, Turkey Are in Final Stage of Talks on Construction of Nuclear Plant

• Nuclear talks between Korea Electric, Turkey near conclusion
• Korea Electric Power Corp., which won an $18.6 billion atomic reactor order from the United Arab Emirates in December, is in the final stage of talks with Turkey for the construction of a nuclear power station.
  A consortium led by Korea Electric will invest in the project, Chief Executive Officer Kim Ssang Su told lawmakers today in Seoul.
  The Turkish government may take a stake of 60 percent in the company that will build the country’s second nuclear power station, Sabah newspaper reported on Oct. 4, without saying how it got the information.
  Korea Electric is proposing to take the remaining share and will raise 70 percent of the estimated $20 billion cost through loans, the Istanbul-based newspaper reported.
  Korea Electric is also seeking to build nuclear power plants in India and Malaysia and considers South Africa, Thailand, Kuwait and Saudi Arabia as potential markets, the Seoul-based company said in a report to lawmakers today.
  State-run Korea Electric beat General Electric Co. and Areva SA to win an order to build four reactors in the U.A.E. The company signed an agreement in March with the Turkish government to study construction of a plant in Sinop, northeast of Ankara.
   

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GE Chief Slams U.S. on Energy

General Electric Co. Chief Executive Jeff Immelt warned that the lack of a comprehensive U.S. energy policy and the "stupid" current structure of the industry are causing America to fall behind in new energy fields.

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Bloomberg News

GE's Jeff Immelt called the U.S. energy regulatory system 'a relic of 1860 or something' at the Gridwise Global Forum in Washington Thursday.

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Megatons to Megawatts – USEC Recycles 400 Tons of Weapon Grade Uranium into Nuclear Fuel

Megatons to Megawatts – USEC Recycles 400 Tons of Weapon Grade Uranium into Nuclear Fuel

"For more than 15 years, USEC and TENEX have cooperated in fueling America's nuclear reactors while reducing the threat of nuclear proliferation for the entire world," said John K. Welch, USEC president and chief executive officer. "Our bilateral efforts have made the world safer, benefited the American consumer, and reduced greenhouse...