Russia offers India JVs for uranium mining

Russia has offered India to set up joint ventures for uranium mining on its territory and third countries as well as nuclear fuel facilities in the two nations, according to state corporation Rosatom.

"We have offered the Indians participation in the uranium mining projects in the Russian Federation and thirds countries. The controlling stake in the joint projects must remain with Rosatom and the partners could get up to 49 per cent share in the projects inside Russia," Rosatom spokesman Sergei Novikov was quoted as saying by RIA Novosti.

He said the talks on the joint projects were held by Rosatom CEO Sergei Kiriyenko in New Delhi with the Uranium Corporation of India Ltd.(UCIL) during the 16th session of Indo-Russian Inter-Governmental Commission last week.

Rosatom spokesman said that in Elkon project in Russia's South Yakutia, the Indian stake would be less than 49 per cent as there were already some foreign stakeholders.

He, however, did not identify them.

During Prime Minister Vladimir Putin's India visit in March earlier this year, Kiriyenko had offered UCIL stake in Elkon project and setting up nuclear fuel JVs in Russia and India.