As Berkeley moves ahead into the development phase demand for the company’s product continues to grow throughout the world. Last week Zhou Rongsheng, CEO of CGN Uranium Resources, said that they are looking to acquire more uranium assets, adding that China’s uranium production is expected to top 30,000 tonnes by 2030.
 
The news comes following the publication of a report by the WNA which outlined that less than a quarter of Chinese nuclear fuel supplies comes from domestic uranium mining and exploration and plans for new mines have increased significantly since 2000. By international standards, China's ores are low-grade and production has been inefficient and they are therefore ramping up international arrangements to obtain fuel.
 
Agneta Rising, President of the WNA, said: "Nuclear is very competitive compared to other renewables, because it doesn't need backup systems as other clean sources do to generate power constantly. It is a reliable and low-carbon source for energy already existing today."
 
The increased demand for nuclear as an alternative fuel source comes at an ideal time for Berkeley Energia. The ultralow cost Salamanca project is one of the only projects in the world with the potential to go into construction at current uranium prices, leaving Berkeley ideally placed to capitalise on this increase in demand for its product.