Uranium Deposits - Exploration in India

Uranium (Nuclear Minerals) / Exploration, Mining, Marketing, & Acquisitions

Date posted: 05/31/16

Jocelyn Aspa reports that the demand for nuclear power plants are on the rise in India, prompting the country to explore and develop uranium deposits within its borders. India should be exploring for uranium, in the south-central region specifically, because it has been estimated to have approximately 20,000 tonnes of uranium deposits in a handful of areas within the region. Abhinav Kumar, head survey of the team, said that the Aravali-Delhi fold belt constitutes the Proterozoic basins such as Cuddapah basin in Andhra Pradesh, Gwalior Vindhya Basin in Madhya Pradesh, etc., where multi-disciplinary investigations have been taken up in search of unconformity related uranium deposits, like those known in Canada and Australia. While India is now looking to develop its uranium resources in order to fuel growing nuclear demand, it is worth remembering that bringing a mine from discovery to production takes many years. In the meantime, the country must get its uranium from other sources, paying more than if developed within India. Uranium prices are struggling right now, but as FocusEconomics notes, the construction of new reactors in China, India and Russia is expected to relieve pressure on oversupply and boost prices moving forward.