india seeks new uranium sources

Uranium Shortage Hits India, & the one thing Uranium Corp. of India Ltd. cannot allow is for reactors to completely shutdown.
Its my opinion that if unable to secure Long term Contracts with Utilities, they will have no option but to purchase emergency fuel from the Spot Market.
______________________________________________________________________

India seeks new uranium sources

Published: May 7, 2008 at 6:16 PM

NEW DELHI, May 7 (UPI) -- A uranium shortage has India's nuclear plants running below capacity.

The government admitted the shortage along with declining profits only last week, the Times of India reported.

"Currently, there is a mismatch in the demand and supply of indigenous uranium. As a result, this capacity is being operated at lower power level, matching fuel supply," a government official said.

The shortage in uranium has led to declining profits for Nuclear Power Corp. of India, and many plants are operating at 40 percent capacity or less.

The Uranium Corp. of India Ltd. supplies the fuel to NPCIL, mainly sourced from the uranium ores in East Singbhum district of Jharkhand. Though UCIL could find some small reserves in Meghalaya and Andhra Pradesh, the mines at Singbhum are the main source.

"The government should take appropriate measures to ensure imports of the fuel," the official said.
.
.
.
Cheers to the U-Bulls from grant64 :)
.
.
.