A large leaching sandstone-type Uranium deposit has been discovered in China’s northern regions, according to an announcement by the Ministry of Land and Resources Sunday.

The deposit, ranking as the country’s largest leaching sandstone-type Uranium deposit identified so far, was found in Daying areas in central Inner Mongolia Autonomous Region, the ministry said.

The discovery, which makes the site one of the world’s top uranium mines, has great significance for boosting domestic uranium supplies and ensuring energy sources for developing nuclear power, the ministry said, without elaborating on the mine’s size.

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The site was discovered along with a “Super-size” Coal mine, the reserve of which was estimated at 51-B tons, the ministry said.

The discovery underlines the country’s efforts to promote combined exploration of Coal and Uranium in a bid to save investment, it said.

A team of 500, consisting of technicians and constructors from nuclear power companies and related government departments has been deployed during the 10-month exploration after the site was tested for radioactivity during drilling.

In Y 2008, China discovered its first 10,000-ton level leaching sandstone-type Uranium deposit in the Yili basin in the northwestern Xinjiang Uygur Autonomous Region.

Paul A. Ebeling, Jnr.

Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster’s Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.

Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels.

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