NTPC issues tender for overseas uranium mine acquisition for nuclear push

New Delhi [India], July 10 (ANI): State-run power major NTPC is planning to acquire uranium mining assets overseas as part of its strategy to secure long-term fuel supplies for its planned nuclear power expansion, according to a tender floated by the company.

According to the tender document, NTPC has initiated a nuclear capacity addition plan to contribute 30 GW towards the national nuclear capacity target. To accelerate the programme, the company has also set up a wholly owned subsidiary, NTPC Parmanu Urja Nigam Limited (NPUNL), to independently execute nuclear power projects.

The tender stated that the scale of the planned nuclear expansion requires a sustainable supply of uranium. Considering the limitation of domestic uranium reserves and mining capacity, NTPC has proposed exploring and acquiring uranium mining assets abroad.

As part of the process, NTPC intends to appoint a consultant to identify and evaluate suitable uranium mining opportunities globally. The consultant will assist the company in identifying available mining assets and assessing opportunities for acquisition.

The potential target countries include Australia, Canada, Kazakhstan and South Africa, among others.

The tender document read, “NTPC intends to engage a consultant to assist in identifying and evaluating available global opportunities for acquisition of uranium mining assets. The potential target country may include, inter alia, Australia, Canada, Kazakhstan, South Africa, etc. NTPC shall define its annual uranium quantity requirements to be produced and sourced from prospective overseas mines”.

The move comes as the Government of India has set a strategic target of achieving 100 GW of nuclear power capacity by 2047, in line with the country’s goal of attaining net zero emissions by 2070.

According to the tender, NTPC will define its annual uranium requirement to be produced and sourced from prospective overseas mines.

Based on these requirements, the consultant, in consultation with NTPC and its joint venture or subsidiary, will prepare, invite, process, evaluate and finalise a global Request for Proposal (RFP) for suitable acquisition opportunities.

The consultant will also conduct a comprehensive assessment of the global uranium mining sector and identify opportunities across the value chain, including greenfield projects, brownfield or development projects, and operating mines.

The scope of work includes preparing the RFP, defining technical and financial qualification criteria, evaluating bids, and preparing a shortlist of eligible counterparties.

The NTPC tender document also shared that following the shortlisting process, the consultant will undertake detailed techno-commercial evaluations of the identified assets using internationally accepted valuation methodologies and industry best practices. (ANI)

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