India targets Uzbek uranium

By bne IntelliNews October 7, 2013

bne -

Indian government officials have opened talks with Uzbekistan in an attempt to secure supplies of uranium for its growing nuclear industry, as the south Asian giant pushes to increase its share of Central Asia's rapidly growing energy output.

Indian department atomic energy officials visited Uzbekistan in the first week of October to discuss the issue, the Times of India reports. India wants to import around 2,000 tonnes of uranium per year from Uzbekistan, starting in 2014, according to the newspaper, and a deal is said to be close. The visit follows a meeting between Indian foreign minister Salman Khurshid and Uzbek Foreign Minister Abdulaziz Kamilov in Tashkent last month.

India already generates 4.78GW from its 19 nuclear reactors, and is planning to build new power stations in the coming years to help meet its growing demand for energy. Under a national programme, a total of 16 reactors were due to be installed in 2012-2022. Both Kazakhstan and Mongolia already export uranium to India, and the south Asian state is now looking to diversify its sources.

"It is not that we are focusing on Central Asia only, but the region happens to have proven reserves of uranium," said one of the officials. "We will try to procure uranium from wherever possible ... We are also looking at Niger and Namibia.

Others are also eyeing Uzbekistan's deposits of the nuclear fuel. In July, the country's Navoi Mining and Metallurgical Combine (NMMC) signed a deal with Japan Oil, Gas and Metals National Corporation (JOGMEC) to jointly explore for the heavy metal.

Related Articles

Retail trade slows in Kazakhstan amid economic uncertainty

Naubet Bisenov in Almaty - A free-floating exchange regime for Kazakhstan’s currency, the tenge, is taking its toll on retail trade as the cost of imports rise. While prices have not changed ... more

bne:Chart - Russia begins to steady the ship according to latest Despair Index

Henry Kirby in London - Ukraine and Russia’s latest “Despair Index” scores suggest that the two struggling economies could finally be turning the corner, following nearly two years of steady ... more

New Kazakh central bank governor re-adopts free floating regime

bne IntelliNews -   The National Bank of Kazakhstan, the central bank, has re-adopted a free-floating exchange regime under the new governor, Daniyar Akishev, who has ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss