A 50-member Japanese delegation
arrives in Mongolia on October 8 to discuss jointly developing Mongolian
Japan is the third largest
consumer of uranium in the world.
Hiroyuki Ishige, Japanese vice
minister for trade, will lead the group for talks in Ulaanbaatar. Japan
is particularly concerned about world uranium supplies due to the increased
use of nuclear power by China and India.
``The development of new uranium
mines is vital as concerns are growing that production at several existing
mines may start rapidly declining from 2020 onward,'' Yuji Tanoue, head
of Trade Tech in Tokyo, a nuclear-fuel consulting firm, told Bloomberg
Mongolia currently has 62,000
tons of uranium reserves, or one percent of the world's total. Speculation
holds that Mongolia may have an additional 1.39 million tons of untapped
uranium, which would make Mongolia the world's largest source of uranium.