India inks deal to get uranium supply from Uzbekistan

Why in news?

• India has signed a long-term contract with Uzbekistan for supply of uranium ore concentrates to widen its source base for the nuclear fuel.
• The contract was exchanged in the presence of Prime Minister Narendra Modi and Uzbekistan President Shavkat Mirziyoyev, who is attending the Vibrant Gujarat summit in Gandhi nagar.
• The Department of Atomic Energy (DEA) and Novoi Minerals & Metallurgical Company of Uzbekistan exchanged the
• Uzbekistan is the seventh largest exporter of uranium in the world.
• Presently, India imports the majority of its uranium from Russia, Kazakhstan and Canada. 
• Russia will be supplying about 56.67 metric tons of uranium between 2018 and 2020, while Kazakhstan supplied 1500 metric tons in 2018 and is expected to supply a similar amount in 2019.
• Moreover, the Indian government has taken measures to augment domestic uranium production by state-of-the-art, integrated multi-disciplinary explorations in several prospective geological locations in various parts of the country, where it expects to open new mines and processing facilities.
• Presently, eight of India’s 22 operational nuclear reactors, with an aggregate capacity of 2,400 MW, are fuelled by locally mined uranium, while the other 14 reactors, with an aggregate capacity of 4,380 MW, are under the International Atomic Energy Agency’s (IAEA) safeguards and use imported uranium.

Key highlights:-

• The Exim Bank signed an agreement with Uzbekistan to extend a 200-million US dollar line of credit for financing housing and social infrastructure projects.
• Prime Minister Modi also held separate meetings with his Maltese counterpart Joseph Muscat, Czech counterpart Andrej Babis and Danish counterpart Lars Lokke Rasmussen.
• Mr Modi and Mr Muscat discussed the growing economic linkages between the two nations. They also agreed to enhance mutual cooperation in sectors such as renewable energy, pharma and healthcare, air connectivity and tourism.
• Prime Minister Modi in his interaction with Czech leader discussed trade, technology and investment, cooperation in defence, high-tech manufacturing, heavy engineering automobiles and civil aviation.
• He also discussed bilateral relationship with Danish counterpart the trade and investment in renewable energy, waste management, agriculture and food processing.
• Mr Modi also held meetings with Minister Menno Snel of the Netherlands, Governor General-Designate Australia General David Hurley and Japanese Minister Yoshihiko Isozaki.

(Economy,Technology)(The hindu)

Pic courtesy:AKIpress News Agency