India signs uranium deal with Namibia

Published September 2, 2009

NEW DELHI, Sept 1 India has signed a pact with Namibia that could open the way to investment in the African country's uranium and diamond industries, a foreign ministry statement said on Tuesday.

Namibian President Hifikepunye Pohamba signed five accords with Indian premier Manmohan Singh after talks here, the statement said.

The two sides “noted the many opportunities for investment available in Namibia in the uranium, diamond, agriculture, energy and mining sectors... and resolved to encourage Indian investment in these areas,” it said.

Namibia is ranked among the top producers of uranium behind Canada, Kazakhstan and Australia, with output of 4,366 tonnes of uranium oxide. New Delhi has been looking to buy uranium to fuel its planned expansion in nuclear energy after the removal of a three-decade-old embargo last year.

India clinched an accord with the US last October to enable sales of civilian nuclear technology to India for the first time in 34 years.

India also obtained exemption from the Nuclear Supplier Group that controls global atomic commerce to buy nuclear fuel and power plants. —AFP

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