Bloomberg reported that National Aluminum Company of India is seeking to buy uranium mines in Canada, Mongolia and Namibia to secure supplies for its first move into nuclear energy.
Mr BL Bagra finance director of National Aluminum said that the company, based in the eastern city of Bhubaneswar is in talks with Uranium Corporation of India to develop any projects found and may tie up with the nation’s monopoly nuclear fuel producer in a month. Some targets have been identified for detailed studies.
Mr Bagra said that the two companies will chase deals aggressively after an agreement is signed.
India, struggling to run its 20 nuclear reactors at full capacity because of a fuel shortage is seeking uranium supplies to increase atomic power generation to 20 GW by 2020 from 4.8 GW. National Aluminum and Nuclear Power Corporation of India aim to jointly build 1,400 MW atomic power plant and may spend a combined INR 120 billion.
State owned Uranium Corporation part of the department of atomic energy, mines the ore at six locations in the eastern state of Jharkhand. It plans to seek more reserves in the eastern state and begin mining in the southern states of Andhra Pradesh and Karnataka.
（Sourced from Bloomberg.net）
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