Indian group eyeing uranium mines for nuclear power

India's National Aluminium is eyeing buy uranium mines in Canada, Mongolia and Namibia to secure supplies for its nuclear energy sector.

National Aluminium finance director BL Bagra that the firm is in talks with Uranium Corporation of India to develop projects and may tie up with the nuclear-fuel producer within a month, according to the Business Standard.

Some targets were identified for detailed studies, he said.

India is seeking uranium supplies to increase its atomic power generation to 20GW by 2020 from 4.8GW.

National Aluminium and Nuclear Power Corporation of India also plan to jointly build a 1,400MW nuclear power plant and may spend a combined US$2.6 billion according to Bagra.