I wrote on Monday that China and India were pressing ahead with their nuclear building programmes even in the wake of the Japan crisis. Well, no longer, at least for the moment. China has just made an announcement that could have a huge impact on the nuclear industry.I too wrote about China, yesterday quoting official sources in "With Uranium Stocks Down 26% "China 'Won't' Change Nuclear Plans" 60 Reactors Scheduled (CCJ; RTP; URA; DNN; URRE)"
This is from Reuters:
China has suspended approvals for proposed nuclear power plants and is making a comprehensive safety check of atomic plants following Japan’s nuclear crisis, the State Council, or cabinet, said on Wednesday....MORE
My best guess is that this is as much for external consumption as it is about safety concerns and that China will be looking to increase their uranium supplies.