NTPC Ltd, India's state-owned utility and sole nuclear power generator, is seeking stakes in uranium mines internationally to secure fuel supplies for a planned nuclear capacity expansion, according to Oilprice and Bloomberg Markets. The company has issued a tender for consultants to identify investment opportunities in uranium-producing countries including Australia, Canada, Kazakhstan, and South Africa, with bids due 16 July 2026.
The uranium mine search is tied to NTPC's stated goal of developing 30 GW of nuclear power capacity over the next 20 years, a target that requires long-term fuel supply commitments not fully covered by domestic sources.
Cameco Corporation (CCJ), one of the world's largest publicly listed uranium producers with operations in Canada and Kazakhstan, is directly connected to this story as a potential target or partner in the countries NTPC has identified for investment. The URA ETF, which holds a basket of uranium mining equities, provides broad exposure to the same set of producers across those jurisdictions.
No official government approval or regulatory statement from India's Ministry of Power or Atomic Energy Commission has been reported in connection with this tender at the time of publication.
Sources: Oilprice, Bloomberg Markets