Uranium Corporation of India (UCIL) plans to double its uranium production by 2036 to support India's goal of 100 GW of nuclear power capacity by 2047. The plan relies on expanding existing mines, opening new ones and recovering uranium from Hindustan Copper's waste.
At a glance
- India has about 9 GW of nuclear capacity, and UCIL's uranium supplies around 40% of it.
- New projects are planned in Rajasthan, Karnataka, Andhra Pradesh and Chhattisgarh, but need clearances from 10 bodies.
- A planned plant at Mosabani would recover uranium from copper tailings with no mining cost.
Background
Uranium Corporation of India Ltd (UCIL) is the state-owned company that mines and processes uranium for India's nuclear power plants. It runs eight projects, seven of them in Jharkhand's Singhbhum region and one in Andhra Pradesh. India also imports uranium to fuel its reactors, so domestic output matters for energy security as nuclear capacity grows.
What happened
UCIL plans to double uranium production by 2036, chairman and managing director K Anand Rao said at Jadugora in Jharkhand, PTI reported on Tuesday. The aim is to support India's target of 100 GW of nuclear power capacity by 2047, up from around 9 GW now.
"The plan is, however, subject to statutory and regulatory clearances obtained in time," Rao said. He declined to give current production figures, citing strategic reasons.
How UCIL plans to get there
The company will expand its existing Jadugora and Narwapahar mines and develop greenfield projects in Rajasthan, Karnataka, Andhra Pradesh and Chhattisgarh. Rao said these will take three to six years to start because they need clearances from 10 different bodies, including the environment ministry. Of UCIL's eight current projects, seven are underground mines and one is an open-pit mine at Banduhurang.
UCIL also plans a Mosabani Uranium Recovery Plant in Singhbhum to extract uranium from the tailings of Hindustan Copper, with a capacity of 9 lakh tonnes a year. "They use only 5 per cent of the total ore, and the rest is rejected," Rao said, calling the plan cost-effective because there is no mining cost.
What it means for India
UCIL's uranium currently supplies around 40% of India's nuclear power capacity, so doubling output would make the country less dependent on imports as new reactors come online. Jharkhand alone has uranium reserves for 50 years at the present rate of extraction.
Turning copper waste into uranium feed also adds value to Hindustan Copper's operations. Rao said India would have abundant energy once it reaches the third stage of its nuclear programme, which uses thorium-based reactors.
Our read
Outlook: neutral. UCIL's output is small next to the global uranium market, and new supply is years away. India's nuclear expansion still points to rising long-term uranium demand.
What to watch
- Clearances for the greenfield projects in Rajasthan, Karnataka, Andhra Pradesh and Chhattisgarh.
- Progress on the Mosabani Uranium Recovery Plant.
- New reactor additions toward India's 100 GW nuclear target.
For information only, not investment advice.
Uranium price in India
metalscost.com India reference price as of 2026-10-16.
Detailed analysis
Timeline
- 2026-10-05: UCIL chairman K Anand Rao outlines the plan to double uranium output by 2036.
Demand Drivers
India targets 100 GW of nuclear capacity by 2047, up from about 9 GW.
Supply Drivers
UCIL aims to double domestic uranium output by 2036 through new and expanded mines.
Government Policies
New mines need clearances from 10 bodies, which could take three to six years.
What could lift prices
- India's nuclear target implies a large rise in long-term uranium demand.
- Clearance delays could slow UCIL's new supply, keeping India reliant on imports.
What could weigh on prices
- More domestic uranium would reduce India's need for imports.
- Recovering uranium from copper tailings adds low-cost supply.
Country impact
| Country | Impact | Reason |
|---|---|---|
| India | High | Doubling domestic uranium output supports its 100 GW nuclear target. |
Industry impact
| Industry | Effect | Reason |
|---|---|---|
| Nuclear Power | Positive | More domestic fuel supports India's planned reactor expansion. |
| Copper Mining | Positive | Hindustan Copper's tailings gain value as a uranium source. |
Who gains, who loses
- India's nuclear power programme: It would gain more domestically produced uranium fuel.
- Hindustan Copper: Its copper waste would become feed for uranium recovery.
- Uranium exporters to India: Higher domestic output would reduce India's import needs.
Other ways this could play out
- If clearances come on time, UCIL could double output by 2036 as planned.
- If approvals from the 10 bodies drag on, new projects could start later than six years out.
Price risks
- Delays in Indian reactor construction would slow demand growth.
- Global uranium prices depend far more on major producers than on UCIL.
Technical view
Price is mixed relative to its 20-period and 50-period moving averages, showing no clear trend alignment.
Computed from metalscost.com's own stored price history.
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