International Cooperation to Benefit Uranium Mining Interests
Source: Resource Investing News, Dave Brown (11/3/10)
"Namibia and India to collaborate on uranium, diamond sectors."
Trade between Namibia and India has seen a modest, but steady, growth although trade volume is still in favor of India. In the past, the main commodities from Namibia to India have been non-ferrous metals, metal scrap, transport equipment and metalifier ores and machinery, except electrical and electronic.
During a recent interview with Sophia Nangombe of the High Commission of the Republic of Namibia in India, she noted that Namibia has enjoyed great relations with India for many years. According to Nangombe, India has always been a friend to Africa; but, with regards to trade, the Indians seem more interested in the finished products rather than exploring for the raw materials the country has to offer. Meanwhile, Acting Indian High Commissioner to Namibia, Rajiv Nagpal, maintained that bilateral relations between India and Namibia have been active and are marked by warmth and understanding.
Indian Nuclear Pressure
India's challenge to secure energy sources has long been well documented and, though the country currently operates 19 reactors, it has demonstrated a strong political attraction to nuclear power. With a growing population estimated at 1.2 billion, it hosts 1 less reactor than Canada. The second most populated country in the world possesses four reactors currently in the construction stages and a total of 60 additional reactors proposed and planned. The inevitable demand will be significant in the future for uranium miners and investors. An added complication is that Australia, host to the world's largest uranium reserves, will not presently permit the export of uranium to India.