Uranium mining giant Cameco coming to India
03 Dec 2009
Toronto: Uranium mining giant, Canada's Cameco, which accounts for 15 per cent of the world's uranium production, is set to enter India. It said Wednesday that the impending civil nuclear deal between the two nations has opened "an exciting opportunity" for it.
It also said it would sell mining technology to India, apart from uranium.
"India's announced programme for the construction of new nuclear power plants is second only to China in its scope, so India represents a large market opportunity for any uranium fuel supplier," Cameco spokesperson Lyle Krahn said.
"The nuclear deal with India will allow us to look into potential business opportunities in a growing market."
He also stressed that apart from uranium supply his company will look at "the entire spectrum from exploration to fabrication".
As for the scope of the business opportunity that the bilateral agreement would open up, Krahn pointed out that India currently had over 4,000 megawatts of nuclear generating capacity and consumed about 2 million pounds of uranium annually.