India is hoping to jointly explore for uranium in Mongolia, according to officials.  Currently, India’s nuclear power plants are only running at half their capacity due to a shortage of uranium-based fuel.

“We are planning to carry out joint mining and exploration initiatives with Mongolia,” said Shyam Saran, special envoy to the Indian Prime Minister.
However, it is not known who India will join with in Mongolia to explore for uranium.
Saran also said he believes the global financial crisis will lead to a slowdown in the global nuclear power market and reduce uranium prices which will help India expand its civil nuclear energy program as less money is spent on uranium to fuel reactors.  “The current financial crisis can be a blessing in disguise. We can see a buyers’ market in nuclear soon,” he said.

 

Source: Mongolia Web