The Hindu Business Line : Cameco has big plans for uranium biz in India

Plans ahead
Cameco plans to sell uranium and also help in the exploration and mining of the ‘yellow cake’ in India as and when they get the right opportunities

M. Somasekhar

Hyderabad, Oct. 4 Cameco Corporation, Canada-headquartered global leader in uranium business for the nuclear industry, has big plans for India.

The company’s top bosses, led by the Chief Executive Officer and President, Mr Gerald Grandey, were in New Delhi in the last few days and met the heads of the Indian Atomic Energy Commission, days ahead of formally launching its operations in India from October 1 in Hyderabad.

Dr C. Ganguly, former CEO of the Hyderabad-based Nuclear Fuel Complex, will head the India operations, of the Saskatoon-based company, which has interests in uranium, fuel services, electricity and gold,

Dr Ganguly, who was leading the fuel cycle division at the International Atomic Energy Agency, Vienna, told Business Line here that Cameco plans to sell uranium and also help in the exploration and mining of the ‘yellow cake’ in India as and when they get the right opportunities.

Indo-Canadian pact

At present Canadian companies cannot do business with India.

The Indian Government has been negotiating with several companies, including Cameco, to expand their nuclear energy programmes.

Once the Indo-Canadian nuclear agreement goes through, the company plans to go full throttle, Dr Ganguly said.

India has so far received uranium supplies from Areva of France and is due to get the same from Kazhakasthan.

Regional focus

On the reason for choosing Hyderabad, Dr Ganguly said in the nuclear business, Andhra Pradesh and especially the city was uniquely placed.

It has the Atomic Minerals Division, the main explorer of minerals.

It has a major presence of the Uranium Corporation of India Ltd and also activity was picking up in the Kadapa district for exploration and setting up of a new plant.

NFC, the main user of the fuel is here, and the Nuclear Power Corporation of India Ltd is opening up a major office, he explained.