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Waterbury Lake exploration scene, Raven Mine Water Australia image
Global competition for securing energy resources has become real in the wake of growing demand for energy resources driven by growth in developing countries, rising crude oil prices and raw material prices. KEPCO, for its part, has also recognized the urgency of securing energy resources required to supply affordable electric power on a stable manner and has thus been working on resource exploration just like other countries.
As for bituminous coal business, KEPCO currently runs five businesses including mine development in Bylong, Australia. As of 2012, KEPCO secured 7.5 million tons/year of bituminous coal. In uranium business, KEPCO has so far invested in six businesses including one in Imouraren, Niger for exploration and development. As of 2012, it has secured 159 tons/year of uranium from mines in production. KEPCO seeks to enter into resource trading business to better respond to the market changes and promote stability in electric power supply by taking advantage of resources explored and developed.
Overseas resource exploration not only contributes to stable supply of electricity power by securing feedstock for power generation but also gives sharper competitive edge to KEPCO’s winning bids for IPP by supplying necessary fuel to overseas IPP businesses.
KEPCO is eager to rise into the global leader in resource exploration by broadening its territory to CNG, shale gas and coal terminal business. To this end, it will run its own mines, changing its business strategy from small share investment into aggressive actions to secure management rights.
KEPCO’s global territorial coverage is also expanding to across the world i.e. to Australia, Indonesia and N. America countries for bituminous coal and Canada, Africa and Australia for uranium. KEPCO will organize optimal business portfolio for each investment destination and three phases of mine development (exploration, development and production) to eventually secure resources on a stable basis. This will hopefully enable KEPCO to keep its business risk to minimum, overcome regional limitations in resource developing by launching resource trading business, and maximize value of developed resources.

Purpose of Resources Development

  • Stable Procurement of Energy Resources : Stability in securing energy resources is essential for KEPCO
    Coal Consumption Forecast (Unit : Mt)
    • 2011
      7.5, 65.5
    • 2020
      55(Self-sufficiency Quantity), 37
    Uranium Consumption Forecast (Unit : t)
    • 2011
      160, 4,340
    • 2020
      5,400(Self-sufficiency Quantity), 3,500
  • Proactive Measures against Fuel Market Volatility : Increasing fuel prices can be offset by profits from KEPCO investments.
    Regarding KEPCO’s total costs, coal & uranium account for 49% & 6%, respectively.

KEPCO’s Performance

Thermal Coal (Unit : Mt)
  • 2007 Australia Cockatoo : 2
  • 2008 Australia Moolarben : 2.5
  • 2009 Indonesia Adaro : 3
  • 2010 Australia Bylong : 7.5
Uranium (Unit : t)
  • 2009 Canada Denison 300, Niger Imouraren 770 : 1,070
  • 2012 Canada Strathmore : 545

* 2007,2008 Canada Cree East & Waterbury : Exploration