Russia offers India joint ventures for uranium mining

Russia has offered joint ventures in exploration and exploitation of uranium mining within its territory and third countries, as part of moves to ease shortage of fuel for India's nuclear power plants.

"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% share in the projects inside Russia," state corporation Rosatom spokesperson Sergei Novikov was quoted as saying by RIA Novosti.

He said the talks on the joint projects were held by Rosatom chief executive 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% 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.