Monday, November 21, 2011

Indian Uranium Minining Projected to Grow



Uranium: Giant Tumalapalli Uranium Mine To Drive Growth. BMI Mining Report. January 2012.
[Excerpted]
BMI View: We are maintaining our forecast of a surge in uranium production from 2012 onwards to reflect development of UCIL's Tumalapalli mine, possibly the largest uranium mine in the world with potential reserves of 150kt. We expect uranium production to grow at an average annual rate of 5.3% from 2010 to reach 349 tonnes by 2015.

We are maintaining our forecast of a surge in uranium production in 2012 on the back of the development of Uranium Corporation of India's (UCIL) Tumalapalli mine, which could contain as much as 150kt (thousand tonnes), making it one of the largest uranium mines in the world...

….Political will to develop the uranium mining industry should strengthen as India seeks to diversify its reliance on fossil fuels, in particular coal, in providing for its electricity generation….. Energy security is a key concern for Indian government as frequent power shortages in the country has been a drag on economic growth. Evidence of this is that India is still carrying on with nuclear plans despite the Fukushima disaster….

Majia here: When greed is at issue humans seem incapable of learning.

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