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AKIPRESS.COM - State-owned Uzbek mining major NMMC (Navoi Mining & Metallurgy Complex), one of the world’s top ten uranium and gold producers, has signed up to supply 2,000 metric tonnes of uranium ore concentrate to India over the next four years (2014-2018), reports The Indian Express.
The $3.5 billion firm from Uzbekistan is a first-time entrant in the Indian atomic fuel market and joins a list of suppliers from France, Russia and Kazakhstan. Diversification of the uranium suppliers’ list is part of India’s strategy to counterbalance the fuel risk for the country’s nuclear reactors that are eligible to use imported uranium. “The contractual agreement with the Uzbek firm is a step in this direction,” an official involved in the deal said.