Hong Kong stocks concept tracking | Inner Mongolia ERDOS Resources discovered a super large uranium mine. The prospect of uranium resources is optimistic (with concept stocks attached).

In the Jingchuan area of the Inner Mongolia ERDOS Resources Basin, China has discovered a super-large uranium deposit, which will greatly increase China's uranium resources and effectively enhance the security of China's uranium resources. The China Geological Survey of the Ministry of Natural Resources announced on the 10th that the China Geological Survey, in collaboration with Petrochina Changqing Oilfield Branch and China National Nuclear Corporation Geological Bureau, made a major breakthrough in uranium exploration in the Jingchuan area of the Inner Mongolia ERDOS Resources Basin, with the scale of uranium resources reaching super-large. It is reported that the uranium deposit in the Jingchuan area of the Inner Mongolia ERDOS Resources Basin is a major breakthrough in the new round of exploration strategy implementation in China, and it is also the first super-large uranium deposit discovered in a wind-blown sandstone distribution area globally. Earlier, Canadian uranium producer Cameco (CCJ.US) stated that due to the expiry of government authorization, its joint venture Inkai in Kazakhstan unexpectedly suspended production. It is known that Inkai is a joint venture established by Cameco and Kazatomprom, the state-owned uranium mining company of Kazakhstan, with Cameco holding a 40% stake. According to the third-quarter earnings report on November 7th, Inkai is expected to produce 7.7 million pounds of uranium by 2024, of which 2.3 million pounds have been delivered to Cameco. This is slightly higher than Cameco's full-year production estimate of 23.1 million pounds by 10%. Cameco said on Thursday that Inkai had suspended production activities as of January 1st. The company stated that based on information as of December 26th last year, it had expected the project to receive an extension approval from the local Ministry of Energy. This incident has raised doubts about the reliability of Kazakhstan as a partner of Cameco and a broader uranium supplier. Its impact could be significant. According to data from the World Nuclear Association, Kazakhstan is the world's largest uranium producer, with its supply accounting for 43% of the world's total in 2022. The AI industry is bringing explosive growth in electricity demand, and renewable energy cannot meet the needs of rapidly expanding data centers. In this situation, industry giants are turning to nuclear power. With various US technology giants signing nuclear power agreements to meet the electricity needs of artificial intelligence, the nuclear energy industry has become a key direction for AI investment, and analysts are also optimistic about the prospects of the industry. Zhongyi International stated that the future demand for natural uranium in the next 10 years will benefit from the structural growth trend of nuclear power. At the same time, with uranium mine supply constrained, uranium prices will remain high in the coming years. Hong Kong-listed companies related to uranium resources: CGN MINING(01164): The company holds four low-cost uranium mines in Kazakhstan through its joint ventures with KAP, benefiting from the long-term trend of rising uranium prices.