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Mining & Quarrying Corporate - Alliances & Joint Ventures Web Extras - Overseas Investments Areva offers stake to NPCIL in African uranium mines
Anil Sasi New Delhi, July 25 Areva SA has offered state-owned Nuclear Power Corporation of India Ltd (NPCIL) minority stakes in a handful of uranium mines owned by the French nuclear major in Africa. These include existing mines in Niger and upcoming uranium assets in South Africa. NPCIL has also got feelers from the Kazakhstan Government to participate in mining operations in the Central Asian nation. “NPCIL is evaluating offers for picking up minority equity in both operational and some new uranium mines owned by Areva in Africa. During the discussion with Kazakhatomprom (the state-owned nuclear monopoly of Kazakhstan), the possibility of stakes for Indian utilities in mining assets there was also discussed,” a Government official told Business Line. A final decision is likely soon and minority stakes in 4-5 mines are likely in the first phase, as and when the offers are finalised. Long-term supplies“Having a stake in any project ensures long-term secured supplies,” the official said. NPCIL is in talks with countries such as Canada and Kazakhstan for long-term supply contracts, without the possibility of stakes in mining assets, to fuel the existing set of Pressurised Heavy Water Reactors (PHWR) and upcoming Light Water Reactors (LWRs). While the new LWRs under discussion with foreign manufacturers come with a guarantee of life-time fuel supplies, as has been offered by Russia and France, India is looking at secured uranium assets as a back-up. Russia centreIndia is also evaluating an offer to participate, with equity partnership, in an international uranium centre in Russia being set up under the International Atomic Energy Agency (IAEA) supervision. Russia had offered India the option of participating in its International Uranium Enrichment Centre (IUEC) at Angarsk, Siberia, as a means of securing guaranteed fuel supplies. The investments could be considered in lieu of India paying for nuclear fuel to be supplied to the Russian-built Koodankulam Light Water Reactor units and to Indian PHWR units that are to be fuelled by Russian firm TVEL under a bilateral pact.
Incidentally, Areva is scouting for new investors in its Georges-Besse II uranium enrichment plant in France. While Areva is essentially looking for European partners and has not indicated whether it will take on board Indian or Chinese utilities, a Government official said here that if an offer is made, India could consider it. The new stakeholders in the project would join France’s GDF Suez, which owns 5 per cent of the plant, Japanese companies Kansai and Sojitz, and Korean electricity firm KHNP. NPCIL signs uranium supply deal with Kazakhstan N-deal vote sets ball rolling on uranium import options More Stories on : Mining & Quarrying | Alliances & Joint Ventures | Overseas Investments
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