David James
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India Plans to Buy Uranium Mines Overseas
NEW DELHI--India plans to acquire uranium mines overseas and is looking at a proposal to form a joint venture between two state-run companies to implement the plan, a senior minister said.
Acquiring mines overseas will ensure a continuous supply of the fuel to nuclear plants in India, V. Narayanasamy, minister of state at the Ministry of Personnel, Public Grievances & Pensions, said Thursday in a written reply to lawmakers in the upper house of parliament.
Mr. Narayanasamy, who is also minister of state in the Prime Minister's Office, said the proposal is to form a joint venture company between the Nuclear Power Corp. of India Ltd. and Uranium Corp. of India Ltd.--which are under the administrative control of the Department of Atomic Energy, according to a government statement.
Mr. Narayanasamy said the Atomic Minerals Directorate for Exploration and Research, a unit of the DAE, is engaged in efforts to discover uranium resources URA.LN +7.47% in the country through surveys and exploration.
Responding to another query, the minister said India can develop the world's cheapest reactors of quality comparable to those manufactured by other countries including South Korea.
He said India can develop reactors costing $1,700 per kilowatt electrical (kWe) for a 700 megawatt reactor, compared with an average of $2,500 and $3,000 in other countries.
India Plans to Buy Uranium Mines Overseas - WSJ.com
NEW DELHI--India plans to acquire uranium mines overseas and is looking at a proposal to form a joint venture between two state-run companies to implement the plan, a senior minister said.
Acquiring mines overseas will ensure a continuous supply of the fuel to nuclear plants in India, V. Narayanasamy, minister of state at the Ministry of Personnel, Public Grievances & Pensions, said Thursday in a written reply to lawmakers in the upper house of parliament.
Mr. Narayanasamy, who is also minister of state in the Prime Minister's Office, said the proposal is to form a joint venture company between the Nuclear Power Corp. of India Ltd. and Uranium Corp. of India Ltd.--which are under the administrative control of the Department of Atomic Energy, according to a government statement.
Mr. Narayanasamy said the Atomic Minerals Directorate for Exploration and Research, a unit of the DAE, is engaged in efforts to discover uranium resources URA.LN +7.47% in the country through surveys and exploration.
Responding to another query, the minister said India can develop the world's cheapest reactors of quality comparable to those manufactured by other countries including South Korea.
He said India can develop reactors costing $1,700 per kilowatt electrical (kWe) for a 700 megawatt reactor, compared with an average of $2,500 and $3,000 in other countries.
India Plans to Buy Uranium Mines Overseas - WSJ.com
