Taiwan to buy Chinese uranium

Taiwan to buy Chinese uranium

TAIPEI (Reuter): A Taiwanese newspaper said yesterday the island had agreed in principle to buy uranium from its rival China in exchange for permission to store nuclear waste on the mainland.

The China Times said state-owned Taiwan Power Co (Taipower) had accepted in principle China's offer to sell uranium concentrates to the island because the offer "has advantages only and no disadvantages."

A Taipower spokesman and an official responsible for uranium purchases denied knowledge of any decision to buy uranium from China. Talks on storing Taiwan's nuclear waste in China were continuing, the spokesman said.

Taiwan consumes 1,130 tons of uranium concentrates a year, worth up to US$37.5 million. It has an inventory big enough for three years. Britain and France supply Taiwan with uranium concentrates, which are transported to the United States for processing.