India–Kazakhstan Renew Uranium Supply Partnership

New Delhi, Feb 24 (KNN) Resource-rich Kazakhstan, the world’s largest producer of uranium, has agreed to supply a significant quantity of uranium to India under a new contract aimed at fuelling the country’s nuclear power plants.

The announcement was made by Kazatomprom following recent discussions with India’s Department of Atomic Energy, reported The Economic Times.

Renewed Nuclear Fuel Partnership

India and Kazakhstan have been negotiating a fresh uranium supply agreement since the previous contract expired a few years ago. Talks gained momentum in recent months, culminating in the new deal.

The two countries have a history of cooperation in the nuclear energy sector. In January 2009, Kazatomprom signed an agreement with the Nuclear Power Corporation of India Limited (NPCIL) to supply 2,100 tonnes of uranium.

In July 2015, it entered into another agreement with India’s Department of Atomic Energy to supply 5,000 tonnes of uranium during 2015–2019.

The fresh contract strengthens long-standing energy ties between the two countries and supports India’s expanding nuclear power programme.

About Kazatomprom

Kazatomprom is engaged in uranium mining, rare metals processing and production and sale of beryllium and tantalum products.

The company exports 100 percent of its products globally. It is majority state-controlled, with Samruk-Kazyna, Kazakhstan’s sovereign wealth fund, holding 62.99 percent stake with the Kazakh Ministry of Finance holding 12.01 percent, the remaining 25 percent as free float.

The renewed uranium supply agreement is expected to provide stable fuel support for India’s nuclear energy expansion, which plays a key role in the country’s clean energy and energy security strategy.

(KNN Bureau)