World's biggest uranium firm set to enter India

Toronto, Dec 2: Canada's Cameco, the world's biggest mining company, is set to enter India, a official spokesperson said on Wednesday, Dec 2.

Cameco spokesperson Lyle Krahn said, "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."

The global giant that has opened an office in Hyderabad, said it will sell not only uranium but also mining technology to India.

"The nuclear deal with India will allow us to look into potential business opportunities in a growing market," he said.

Apart from supplying uranium to India, Krahn said his company will look at the entire spectrum from exploration to fabrication.

Krahn said the group was "well-positioned with India to secure business opportunities. We intend to pursue long-term uranium sales agreements once the government agreements are in place."

Cameco plans to double its uranium production to 40 million pounds annually by 2018 to meet the demand from India and China.

OneIndia News