Guy Saint-Jacques made these remarks to reporters at the opening of the China International Nuclear Industry Exhibition that day. He said that China and Canada signed a supplementary agreement in 2012 based on the 1994 "Canada-China Nuclear Cooperation Agreement," which initiated uranium trade. Last October, Canada exported two batches of natural uranium to China.
Canada accounts for 16% of global uranium supply, and approximately 85% of Canadian-produced uranium is exported. Guy Saint-Jacques stated that because China-Canada uranium trade has just begun, the proportion of uranium exported to China is still very small, and he believes that the volume of China-Canada uranium trade will continue to increase in the coming years.
The two nuclear reactors at the third phase of the Qinshan Nuclear Power Plant in Zhejiang use heavy water reactor nuclear power technology from Canada's Candu Energy. Guy Saint-Jacques said that based on the successful cooperation experience at the Qinshan Nuclear Power Plant, Candu Energy and the China National Nuclear Corporation are collaborating to modify these two reactors so that they can use recycled uranium from China's mainstream pressurized water reactors as fuel.
Guy Saint-Jacques said that at the same time, both sides are collaborating to develop a new "Advanced Fuel CANDU Reactor (AFCR)," a reactor type that can use natural uranium, recycled uranium, or even thorium as alternative fuel. He believes that this new technology will open up new nuclear fuel pathways, allowing China to further improve uranium utilization efficiency and reduce dependence on natural uranium nuclear fuel.
In addition, Guy Saint-Jacques revealed that Candu Energy and the China National Nuclear Corporation are working together to "go global" and explore nuclear power markets in third countries such as Romania and Argentina, "closely combining the capital, professional expertise, and opportunities of both countries."
