Interesting piece. If that holds true then it is a pretty big uplift in capacity aspirations for the Chinese with significant demand side implications.
I have posted previously that it takes about 175t U3O8 p.a to generate 1GWh of electricity. Subsequent reading would suggest that estimations vary a bit on that count and no doubt technology advances will enhance efficiencies in consumption of U3O8 but even if we round it out to 150t / GWh then we get 17,100t p.a. That's an extra 37m odd pounds pa in demand on available supplies from China alone.
An even more startling quote - "According to the China Daily, Geng Zhicheng, a spokesman for the commission, told a nuclear energy conference in Beijing that if this target (114 GW) is met, nuclear power will account for just 7 per cent of the nation?s estimated need for 1600 GW of power by 2020."
Even at that stretch target nuclear would only account for 7% of China's energy needs ! 7% ! Crazy stuff.
NYMEX crude futures today sitting at 88.78 in the midst of what many tag as the biggest global recession we've seen for the better part of the last 70 - 80 plus years.
Energy sovereignty/security will play its part in BMN's future, I think there is little doubt about it.
BMN Price at posting:
56.0¢ Sentiment: Buy Disclosure: Held
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