Canada uranium deal key to nuclear expansion plans, Pg16

Key Highlights:

• India and Canada finalized a deal for Cameco to supply 22 million pounds (about 10,000 tonnes) of uranium to India between 2027 and 2035.
• The uranium supply contract with Cameco is valued at 2.6 billion Canadian dollars ($1.9 billion).
• This deal follows a similar agreement with Kazakhstan's Kazatomprom, both crucial for India's nuclear power expansion.
• India aims to increase its nuclear power production by more than 10 times by 2047, targeting 100 GW installed capacity.

Detailed Insights:

• India relies on uranium imports due to low-quality domestic ore (0.02 to 0.45% uranium content compared to the global average of 1 to 2%).
• Over 70% of India's uranium needs are met through imports, while domestic production is vital for weapons programs and supply security.
• India consumes about 1,500 to 2,000 tonnes of uranium annually, with projected domestic needs potentially rising to 5,400 tonnes.
• Domestic uranium production is concentrated in Jharkhand and Andhra Pradesh, with explorations ongoing in 15 states to find more deposits.
• The Cameco deal diversifies India's uranium supply, joining Uzbekistan, Kazakhstan, and Russia as key suppliers.
• India aims to complete its three-stage nuclear program using abundant thorium reserves, requiring specialized reactor technology.
• The first step towards the second stage has been taken with a prototype fast-breeder reactor in Kalpakkam.

Key Concepts Involved:

• Uranium: A heavy, silvery-white metal that is radioactive and used as fuel in nuclear reactors.
• Thorium: A naturally occurring, slightly radioactive metal that could potentially be used as fuel in nuclear reactors.
• Fast-Breeder Reactor: A nuclear reactor that breeds more fissile material than it consumes while generating power.