Uranium pursuit fuelling prices

[jpak]

http://www.nzherald.co.nz/section/story.cfm?c_id=3&ObjectID=10385088

India's nuclear power company plans to spend US$1.2 billion on a stake in a uranium mine to support an expanded atomic power programme, entering international bidding for the fuel by nations including China and Japan.
 
Nuclear Power of India approached Australian and Canadian companies on a possible joint venture in uranium mining, said chairman S.K. Jain, without naming them. India might compete with China for deposits of the metal.

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Uranium may become a new source of competition as India follows China in seeking the heavy metal to generate nuclear power to feed increasing electricity demand.
 
"The Chinese are trying to engage Australian companies, and in fact any company in the world that's dealing in uranium," said John Borshoff, CEO of Australian uranium explorer Paladin Resources. "We are aware that the Indians are looking at potential sources."

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