Northam Platinum warns of profit fall as low PGM prices persist
Northam's bigger rival Impala Platinum has already said it will report a basic loss of up to 17.8 billion rand.
China wants to help build nuclear power generation in East Africa, uranium mining and investment company IBI Corp said in a statement after meeting Chinese officials in Beijing, revealing China’s undimmed appetite for overseas nuclear expansion despite the Japanese nuclear crisis this year.
IBI, which has uranium-prospective land in Uganda, said its director, A.J. Coffman, held an “encouraging meeting… with the relatively new umbrella organization overseeing China’s research and development of Generation 3 and Generation 4 nuclear power plant designs.”
“At the meeting, this entity expressed an interest in pursuing nuclear power plant construction in East Africa.”
The news comes amid China’s decision to halt new nuclear power plant construction and to inspect existing nuclear facilities — in the aftermath of the Fukushima nuclear crisis in Japan. China is being forced to expand nuclear power to service its growing economy and to reduce its reliance on coal.
According to the article, South Africa is the only country on the continent that has nuclear power. China has some early-stage uranium interests in Africa, including a 37.2% stake in a uranium mine in Niger, and exploration projects in Namibia and Zimbabwe.
