ONGC to foray into uranium mining
ONGC board has approved entering into a Memorandum of Understanding with Uranium Corporation of India Ltd (UCIL), for exploration and exploitation of uranium.
By PTI |
NEW DELHI: Close on the heels of Indo-US nuclear deal, state-run ONGC will make a foray into uranium mining, an official said. ONGC board has approved entering into a Memorandum of Understanding with Uranium Corporation of India Ltd (UCIL), for exploration and exploitation of uranium, the official said.
This collaboration with UCIL is to leverage ONGC's expertise in exploration of hydrocarbons to commercially exploit this vital and strategic mineral, he added. Currently, ONGC is passively studying the prospects through ONGC Energy Center (OEC) by studying the logs of existing wealth.
There would be an opportunity to synergies the respective strengths of both ONGC and UCIL in pursuing opportunities for exploration and exploitation of uranium in India and abroad, he added.
This collaboration with UCIL is to leverage ONGC's expertise in exploration of hydrocarbons to commercially exploit this vital and strategic mineral, he added. Currently, ONGC is passively studying the prospects through ONGC Energy Center (OEC) by studying the logs of existing wealth.
There would be an opportunity to synergies the respective strengths of both ONGC and UCIL in pursuing opportunities for exploration and exploitation of uranium in India and abroad, he added.
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