High Uranium Prices Boost Exploration: IAEA

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"High prices stimulate exploration. If you explore more, you will find more -- in Africa, Australia, maybe some additional resources in China," Yury A. Sokolov, the International Atomic Energy Agency's deputy director general, told Reuters in an interview late on Monday on the sidelines of a nuclear conference.

High uranium prices will spur exploration that could more than triple known global deposits, avoiding a shortage as China ramps up its nuclear capacity, a top executive with the International Atomic Energy Agency said.

Yury A. Sokolov, the agency's deputy director general, said new technologies could also help boost reactor efficiency, curbing growth in fuel demand even when output expands.

"High prices stimulate exploration. If you explore more, you will find more -- in Africa, Australia, maybe some additional resources in China," he told Reuters in an interview late on Monday on the sidelines of a nuclear conference.

"There are some programs for uranium (deposits) to grow to 16 million tons and even more, depending on additional resources," he said, adding that the total could rise as high as 22 million tons.

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