NTPC Plans Overseas Uranium Mine Acquisitions to Fuel 30 GW Nuclear Expansion
Power major seeks consultant to identify uranium mining assets in Australia, Canada, Kazakhstan, South Africa and other countries to ensure long-term fuel security
NTPC has initiated plans to acquire uranium mining assets overseas as part of its long-term strategy to secure fuel supplies for its ambitious nuclear power expansion programme. The state-run power major has floated a global tender to appoint a consultant for identifying and evaluating uranium mining opportunities across key international markets.
According to the tender document, NTPC aims to contribute 30 GW to India’s nuclear power capacity through its planned expansion. To spearhead this initiative, the company has established a wholly owned subsidiary, NTPC Parmanu Urja Nigam Limited (NPUNL), which will independently execute nuclear power projects.
Recognising the limitations of domestic uranium reserves and mining capacity, NTPC has decided to explore strategic acquisitions of uranium mining assets abroad to ensure a sustainable and reliable fuel supply for its future nuclear reactors.
The consultant to be appointed will assist NTPC in identifying, evaluating and shortlisting suitable uranium mining assets across countries such as Australia, Canada, Kazakhstan, South Africa, and other potential jurisdictions.
The tender document states: “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 initiative aligns with the Government of India’s strategic objective of achieving 100 GW of nuclear power capacity by 2047, supporting the country’s broader commitment to achieve net-zero carbon emissions by 2070.
Under the proposed engagement, NTPC will specify its annual uranium requirements, following which the consultant will prepare and manage a global Request for Proposal (RFP) process for identifying suitable acquisition opportunities. The consultant will also assess the global uranium mining landscape, covering greenfield projects, brownfield developments and operational mines.
The scope of work includes preparing the RFP, defining technical and financial qualification criteria, evaluating bids, shortlisting prospective assets, and conducting detailed techno-commercial due diligence using internationally accepted valuation methodologies and industry best practices.
The move marks a significant step in NTPC’s diversification into nuclear energy and reflects India’s growing focus on securing critical mineral resources to support its long-term clean energy transition.
