Latest news with #CNEA
Qatar Tribune
5 days ago
- Business
- Qatar Tribune
China to nearly double nuclear power capacity by 2040 in rapid build-up
Agencies China will nearly double its nuclear power capacity by 2040, making it by far the world's largest nuclear power generator, according to a new report by the China Nuclear Energy Association (CNEA). The country is set to build dozens of new reactors to raise its installed capacity to 200 gigawatts – more than double the US' current capacity – by the end of the next decade, the Chinese industry body said in the paper released on Monday. Beijing has embarked on one of the fastest buildouts of nuclear power facilities in history over recent years, as it strives to decarbonise the Chinese economy while also avoiding excessive dependence on weather-dependent green energy sources such as solar and wind. Roughly half of the 61 nuclear reactors currently under construction worldwide are located in China, according to a Goldman Sachs report published last week. China had 102 reactors either in use or under construction with a combined capacity of 113GW as of the end of 2024, which are clustered in the country's economically prosperous coastal provinces, the CNEA report said. The United States had 94 operational reactors with a total installed capacity of nearly 97GW as of 2024, according to US Energy Information Administration data. France has the world's third-largest nuclear power capacity, with 56 reactors in use, and several European countries have announced plans to construct more nuclear facilities. However, China's plans dwarf Europe's in terms of April, China's State Council approved the construction of 10 more reactors across five sites dotting the country's coastline, which will require a combined investment of 200 billion yuan (US$27.9 billion). Based on the current pace of construction, China will leapfrog the US to become the world's largest nuclear power generator in terms of installed capacity by 2030, according to the CNEA. Nuclear power will account for about 10 per cent of China's energy mix by the end of the 2030s, it added. Of the 10 newly announced reactors, eight will use China's domestically built Hualong One reactor – a third-generation nuclear power technology that Beijing aims to promote worldwide. Each reactor is capable of generating about 10 billion kWh of electricity per year, enough to meet the annual demand of 1 million people. Competition between the US and China appears to be growing over nuclear power generation, with Washington reportedly suspending licenses for the export of some nuclear power generation equipment to China in early June. In May, US President Donald Trump signed executive orders to accelerate the construction of additional nuclear capacity in the US, with a goal of raising the country's installed capacity to 400GW by 2050.
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Business Standard
5 days ago
- Business
- Business Standard
China targets 200GW nuclear capacity by 2040 to curb coal reliance
The China Nuclear Energy Association report highlights Beijing's aim to reach 200GW installed nuclear capacity by 2040, shifting away from coal and stabilising its energy mix New Delhi China plans to more than double its nuclear power capacity by 2040 as part of a strategic move to reduce reliance on coal and stabilise its energy mix, the South China Morning Post reported, citing a new report from the China Nuclear Energy Association (CNEA). The report, released on Monday, outlines Beijing's intention to achieve 200 gigawatts (GW) of installed nuclear capacity by the end of the next decade. This would exceed twice the nuclear capacity of the United States, which stood at around 97GW in 2024, according to the US Energy Information Administration. As of the end of 2024, China had 102 reactors either operational or under construction, with a combined capacity of 113GW. Most of these are located in the country's economically developed coastal provinces. A recent Goldman Sachs report noted that China already hosts nearly half of the world's 61 nuclear reactors currently being built. The CNEA estimates that by the end of the 2030s, nuclear energy will account for roughly 10 per cent of the national energy mix. New reactors reinforce nuclear momentum In April, China's State Council approved the construction of 10 more nuclear reactors, signalling ongoing government commitment to nuclear energy as a central pillar of the country's decarbonisation strategy. This marks the fourth consecutive year that Beijing has approved the development of at least 10 new nuclear units. The latest projects are expected to require a total investment of approximately 200 billion yuan ($27 billion). Eight of these reactors will employ China's domestically developed Hualong One design – a third-generation nuclear technology that China is promoting for international adoption. According to experts cited in the report, 'The Hualong One is less vulnerable to earthquakes than other third-generation reactors abroad and has more safety redundancies, meaning we can build more in more places.' Each Hualong One reactor can generate roughly 10 billion kilowatt-hours of electricity annually – enough to supply power to about one million people. Balancing coal dominance with cleaner options Despite its clean energy ambitions, China remains the world's largest emitter of greenhouse gases, accounting for over one-third of global emissions in 2023, according to United Nations data. Coal continues to dominate China's energy consumption profile. The nuclear buildout is part of Beijing's broader effort to diversify its power generation base and meet climate goals without compromising energy security. India and the US in context By comparison, India had 8.18GW of nuclear power capacity across 24 reactors in 2024, per a statement by the Department of Atomic Energy. Union Minister Dr Jitendra Singh stated that this figure is projected to grow to 22.48GW by 2031–32. Meanwhile, competition between China and the United States in nuclear energy appears to be escalating. Last month, US President Donald Trump signed executive orders aiming to boost the country's nuclear capacity to approximately 400GW by 2050, Associated Press reported.
South China Morning Post
6 days ago
- Business
- South China Morning Post
China to nearly double nuclear power capacity by 2040 in rapid build-up
China will nearly double its nuclear power capacity by 2040, making it by far the world's largest nuclear power generator, according to a new report by the China Nuclear Energy Association (CNEA). Advertisement The country is set to build dozens of new reactors to raise its installed capacity to 200 gigawatts – more than double the US' current capacity – by the end of the next decade, the Chinese industry body said in the paper released on Monday. Beijing has embarked on one of the fastest buildouts of nuclear power facilities in history over recent years, as it strives to decarbonise the Chinese economy while also avoiding excessive dependence on weather-dependent green energy sources such as solar and wind. Roughly half of the 61 nuclear reactors currently under construction worldwide are located in China, according to a Goldman Sachs report published last week. China had 102 reactors either in use or under construction with a combined capacity of 113GW as of the end of 2024, which are clustered in the country's economically prosperous coastal provinces, the CNEA report said. Advertisement The United States had 94 operational reactors with a total installed capacity of nearly 97GW as of 2024, according to US Energy Information Administration data.
Globe and Mail
04-06-2025
- Business
- Globe and Mail
Blue Sky Confirms Uranium Discovery Potential at its ISR Corcovo Project, Argentina
TSX Venture Exchange: BSK Frankfurt Stock Exchange: MAL2 OTCQB Venture Market (OTC): BKUCF VANCOUVER, BC , June 4, 2025 /CNW/ - Blue Sky Uranium Corp. (TSXV: BSK) (FSE: MAL2) (OTC: BKUCF) , ("Blue Sky" or the "Company") is pleased to announce the results of the initial technical review work completed at the Corcovo Uranium Project, an "in situ" recovery (" ISR") high potential target in Mendoza Province , Argentina . The geological team has reviewed and interpreted bore-hole survey data from 89 historical oil and gas (" O&G") wells, identifying radiometric anomalies at four different stacked horizons, including significant sections up to 10m in thickness along an open trend of more than 10km long (see Figure 1). Nikolaos Cacos , President & CEO of the Company stated, "This data from Corcovo represents a major step forward towards a potential second significant discovery for our Company. The quality and continuity of the radiometric anomalies support the ISR potential of the region, initially recognized as area prospective for uranium by the National Atomic Energy Commission (" CNEA") and confirm Corcovo as a promising new target area in our portfolio." The Corcovo Project covers 20,000 hectares at the northeastern margin of the O&G producing Neuquén Basin. The geological potential of the region for uranium ISR deposits was initially defined by CNEA, the state-owned nuclear company, as reported in the International Atomic Energy Agency and Nuclear Energy Agency document titled: " Uranium 2024: Resources, Production and Demand". Blue Sky optioned the Corcovo project in 2024 as part of a strategic initiative to broaden the Company's medium to long-term prospects for discovery of additional uranium mineral resources. The project benefits from flat topography, road access, and year-round accessibility, supporting cost-effective exploration and potential future ISR development. Highlights of the Technical Review: Blue Sky geologists obtained data for the historical O&G wells via public access request. The data review and interpretation was completed for 89 drill holes for which gamma-ray, density, and self-potential (" SP") logs were obtained and provided strong geological control. Thirty wells detected (" Ueq") (see Table 1). Four discrete uranium-bearing intervals were identified in fluvial and channelized sandstones, including: Centenario Formation Core: 500–600m* depth, most continuous and highest-grade target identified based on the data available to date Centenario Formation Edge: 500–550m* depth, transitional zone, isolated intercepts up to 60 ppm Ueq in less continuous horizon Neuquén Horizon: 300–400m* depth, shallowest zone with continuous sandstone layers, preliminary Uranium equivalent values range between 25–65 ppm. Rayoso Channel: 450–500m* depth, interpreted paleo-channel fill, shows Ueq anomalies ranging from 30–80 ppm. *depths indicated are metres below drilling surface The Centenario Formation Core is the main target, where prospective radiometric anomalies between 1 and 10m thickness were detected, with values up to 261 ppm Ueq (0.03 U 3 O 8 eq; drill hole JCP-1002, @ 560.30m and 560.37m ) and estimated porosity values were between 22%–30% (see methodology description below). Uranium equivalent values were obtained directly from calibrated spectral gamma-ray logs, using spectrometric tools with readings approximately every 0.15 to 0.25 metres. A preliminary Ueq×thickness contour map for the Centenario Formation Core target outlines a potential roll-front morphology along approximately 7km (see Figure 1, grey dashed line). The estimated porosity indicates potentially favorable conditions for "in situ" recovery production methodologies. In the northwestern zone where the best results to date have been identified, the interpretation is considered preliminary and based on limited historical drillholes. Deposit Model The Inkai uranium project in Kazakhstan is one of the world-leading ISR mining projects and a model for exploration at Corcovo. This roll-front uranium mineralization is hosted in permeable Cretaceous fluvial sandstones, with mineralized zones located at depths of 350 to 530 metres. Individual orebody thicknesses range from 2 to 10 metres, with localized zones reaching up to 15 metres. A characteristic of Inkai is the continuity and scale of the mineralization: roll-front horizons are laterally extensive, commonly traceable for over 25 kilometers in length and up to hundreds of metres in width. These dimensions, combined with favorable porosity and permeability, support efficient and sustained ISR operations. The deposit averages approximately 0.03% U₃O₈ and contains proven and probable reserves totaling 368 million tonnes with 251 million pounds of U₃O₈ ( 06/02/2025). Planned Activities and Data Acquisition The Company has confirmed the existence of additional subsurface information within the Corcovo area, including a 3D-2D seismic survey and data from approximately 200 historical drill holes with spacing of approximately 330 to 400 metres. The drill hole information will be particularly valuable in the northwestern sector, where the current drill spacing is generally wider. This additional information will support 3D seismic interpretation to refine the morphology of horizons with anomalous uranium equivalent and their relation to subsurface geologic structures. The process is underway to secure access to this information. In addition, the Company aims to obtain water samples from active oil wells operating under secondary recovery within the property limits, and drill cuttings from historic holes, to validate the historic gamma-ray data and complete geochemical testing. Drill Hole Data Summary Table 1. Summary of Drill Holes with Significant Intervals of Anomalous Ueq (Intervals approximate true thickness as all holes drilled vertically through flat-lying strata.) Hole ID Year From (m) To (m) GR (API) Ueq (ppm) Thickness (m) Horizon JCP-1001 2007 576 577 416 39 0.8 Centenario Edge 584 594 389 36 9.7 Centenario Core 598 605 366 32 7.8 Centenario Core 570 571 349 28 0.5 Centenario Edge 611 611 339 31 0.5 Centenario Core JCP-1006 2008 569 579 743 65 10.1 Centenario Core 443 445 397 36 1.7 Rayoso Channel 542 543 384 35 1.1 Centenario Core JCP-1004 2008 588 589 679 69 1.1 Centenario Core JCP-1002 2007 559 564 823 66 5.0 Centenario Core 569 569 300 19 0.2 Centenario Core CoHS.a-2066 2018 637 638 749 70 0.8 Centenario Core 657 657 403 36 0.8 Centenario Core CoHS.a-2016 2013 569 570 954 78 1.4 Centenario Core CoHS-2026 2009 328 330 787 76 1.7 Neuquén 576 577 417 31 0.8 Centenario Core CoHS-2027 2015 572 573 625 60 1.5 Centenario Core 430 433 324 27 3.5 Rayoso Channel 314 318 305 24 3.5 Neuquén CoH.a-4 2007 548 549 491 49 0.8 Centenario Edge 488 490 422 37 1.7 Rayoso Channel 603 604 343 25 0.6 Centenario Core 612 613 329 31 0.5 Centenario Core 749 750 327 25 0.6 CoHS.a-1021 2011 575 576 549 54 1.0 Centenario Core CoHS.a-2034 2016 436 437 416 38 1.2 Rayoso Channel 567 567 357 20 0.3 Centenario Core CoHS.a-2064 2018 563 568 367 32 4.7 Centenario Core 2012 575 578 327 24 2.6 Centenario Core 2013 568 568 304 24 0.2 Centenario Core CoHS-2010 2012 577 578 439 41 0.6 Centenario Core CoHS-2013 2012 573 574 354 31 0.5 Centenario Core CoHS-2019 2013 578 579 721 60 1.2 Centenario Core 570 572 709 65 2.1 Centenario Core CoHS-2022 2014 471 471 359 24 0.5 Centenario Core CoHS-2028 2015 578 578 362 24 0.3 Centenario Core CoHS-2029 2015 574 575 421 31 1.1 Centenario Core ECo.a-3 2006 575 578 304 24 2.9 Centenario Core ECo.a-5 2006 588 589 304 24 1.1 Centenario Core CoHS.a-2001 2011 573 573 345 26 0.5 Centenario Core CoHS.a-2068 2018 591 592 427 37 0.6 Centenario Core CoHS.a-2014 2013 577 578 337 30 0.6 Centenario Core CoHS.a-1009 2009 703 703 304 24 0.2 Centenario Core CoHS.a-1018 2010 428 429 517 44 1.1 Rayoso Channel 571 571 349 32 0.5 Centenario Core CoHS.a-2004 2011 570 571 446 45 1.3 Centenario Core 579 582 314 24 3.1 Centenario Core CoHS.a-2007 2012 573 574 367 33 0.6 Centenario Core CoHS.a-2012 2012 576 577 438 38 0.6 Centenario Core 441 442 375 34 0.8 Rayoso Channel Note: Ueq is a length weighted average over the reported interval. Methodology and QA/QC Blue Sky Uranium Corp. obtained oil and gas drilling data for 89 wells from Pluspetrol, for work conducted on the properties between 2006 and 2018 including by its corporate predecessors (see drill hole information in Table 2). This data originates from historical oil and gas exploration programs and has not been independently verified by a Qualified Person. Uranium equivalent values were obtained directly from calibrated spectral gamma-ray logs using NaI(Tl) crystal-based tools, with measurements taken approximately every 0.15 to 0.25 metres. Readers are cautioned that uranium-series disequilibrium may affect radiometric results, potentially leading to either underestimation or overestimation of actual uranium content. Porosity was estimated using an average derived from three geophysical logs: the neutron log, the compressional sonic log, and the bulk density (" RHOB") log. This standard petrophysical approach provides a reasonable approximation in the absence of core data. Density values reported are taken from the RHOB profile in historical oil and gas well logs. Qualified Persons The technical contents of this news release have been reviewed and approved by Mr. Ariel Testi , CPG, who works for the Company and is a Qualified Person as defined in National Instrument 43-101. About Blue Sky Uranium Corp. Blue Sky Uranium Corp. is a leader in uranium discovery in Argentina . The Company's objective is to deliver exceptional returns to shareholders by rapidly advancing a portfolio of uranium deposits into low-cost producers, while respecting the environment, the communities, and the cultures in all the areas in which we work. Blue Sky has the exclusive right to properties in two provinces in Argentina . The Company's Amarillo Grande Project was an in-house discovery of a new district that has the potential to be both a leading domestic supplier of uranium to the growing Argentine market and a new international market supplier. Blue Sky is advancing its flagship Ivana Uranium-Vanadium Deposit through a joint venture with subsidiaries of Corporación América Group. The Company is a member of the Grosso Group, a resource management group that has pioneered exploration in Argentina since 1993. ON BEHALF OF THE BOARD "Nikolaos Cacos" ______________________________________ Nikolaos Cacos , President, CEO and Director Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements and forward-looking information (collectively, the "forward-looking statements") within the meaning of applicable securities laws. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "will", "estimates", "believes", "intends" "expects" and similar expressions which are intended to identify forward-looking statements. More particularly and without limitation, this press release contains forward-looking statements that, other than statements of historical fact, address activities, events or developments the Company believes, expects or anticipates will or may occur in the future, including, without limitation, statements about the Company's planned drilling campaigns. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things: uncertainty relating to mineral resources; risks related to heavy metal and transition metal price fluctuations, particularly uranium and vanadium; ri sks relating to the dependence of the Company on key management personnel and outside parties; the potential impact of global pandemics; risks and uncertainties related to governmental regulation and the ability to obtain, amend, or maintain licenses, permits, or surface rights; risks associated with technical difficulties in connection with mining activities; and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations, including in respect of the Company's planned exploration program described in this news release. Actual results may differ materially from those currently anticipated in such statements. Readers are encouraged to refer to the Company's public disclosure documents for a more detailed discussion of factors that may impact expected future results. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.
Toronto Star
31-05-2025
- Business
- Toronto Star
CNE has fired its CEO and his wife. They call the harassment allegations against them ‘unjust'
Just months before the start of the 146th Canadian National Exhibition, the annual fair has fired chief executive officer Darrell Brown and his wife, who was running an art gallery on the fair grounds, the Star has learned. The messy dispute has the Canadian National Exhibition Association (CNEA) searching for a new CEO to run the August event and navigate major challenges, including event space lost to a hotel expansion and other activities on the city-owned exhibition grounds.
