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News -
Mining
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Wednesday, 22 October 2008 06:39 |
India is hoping to jointly
explore for uranium in Mongolia, according to officials.
Currently, India’s nuclear
power plants are only running at half their capacity due to a shortage
of uranium-based fuel.
“We are planning to carry
out joint mining and exploration initiatives with Mongolia,” said
Shyam Saran, special envoy to the Indian Prime Minister.
However, it is not known who
India will join with in Mongolia to explore for uranium.
Saran also said he believes
the global financial crisis will lead to a slowdown in the global nuclear
power market and reduce uranium prices which will help India expand
its civil nuclear energy program as less money is spent on uranium to
fuel reactors.
“The current financial crisis
can be a blessing in disguise. We can see a buyers’ market in nuclear
soon,” he said.
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