India’s National Aluminium Seeks Uranium Mines for Nuclear Power

6 January 2011 (Last Updated January 6th, 2011 18:30)

India's National Aluminium is looking to buy uranium mines in Canada, Mongolia and Namibia to secure supplies to boost its nuclear energy sector. National Aluminium finance director BL Bagra told Bloomberg that the firm is in talks with Uranium Corporation of India to develop projects a

India's National Aluminium is looking to buy uranium mines in Canada, Mongolia and Namibia to secure supplies to boost its nuclear energy sector.

National Aluminium finance director BL Bagra told Bloomberg that the firm is in talks with Uranium Corporation of India to develop projects and may tie up with the nuclear-fuel producer within a month.

Some targets were identified for detailed studies, he said.

India is seeking uranium supplies to increase its atomic power generation to 20GW by 2020 from 4.8GW.

National Aluminium and Nuclear Power Corporation of India also plan to jointly build a 1,400MW nuclear power plant and may spend a combined Rs120bn ($2.6bn), according to Bagra.