China'BOXED

[Anonymous]

By Rod Nickel

    March 13 (Reuters) - Canada's Cameco Corp has begun

shipping uranium concentrate to China, the company said, tapping

into what could become a lucrative market for years to come.

    Saskatchewan-based Cameco signed an agreement in 2010 to

supply China Nuclear Energy Industry Corp, a unit of China

National Nuclear Corp, with 23 million pounds of uranium

concentrate through 2020. The same year, it also signed a deal

to supply China Guangdong Nuclear Power Holding Co Ltd with 29

million pounds of uranium concentrate through 2025.

    Cameco has made shipments under both deals, with more

deliveries to come later this year, company spokesman Rob

Gereghty said on Wednesday.

    Saskatchewan Premier Brad Wall told reporters on Tuesday the

Canadian and Chinese governments have an agreement on nuclear

cooperation. That pact ensures monitoring to verify that

Canadian uranium is used for civilian purposes, such as

generating power.

    "Basically, every hurdle has been cleared," Wall said, in

comments to reporters that were recorded by his office.

    The uranium deal with CNNC is worth C$1 billion ($971

million) at current prices, and could lead to mine expansions in

Saskatchewan, Wall said.

    Prior to the most recent supply deals, Cameco has delivered

to China uranium hexafluoride (UF6), a chemical compound of

uranium, and finished fuel bundles, Gereghty said.

    The company's shares were down nearly 2 percent in afternoon

trading in New York and Toronto.

    CNNC is China's largest generator of nuclear power, while

Canada is the world's second-biggest uranium producer, after

Kazakhstan. A CNNC delegation visited Saskatchewan on Tuesday.

    Wall said uranium mining will be a theme in Saskatchewan's

2013-14 budget, which his Saskatchewan Party government will

unveil next Wednesday.



China's take-over of Canada continues with Chinese-Canadians working as agents for the "motherland".

Resources that remain in the ground are of no use to anyone. You leftards want your governments to have all kinds of cash, but you want to block wealth producing industries. Fuck off!! :x

I do not trust China and don't want to sell them our resources.