Looking for making money from Nuke deal in India, look for buying stake in this company, PE investment can be one option!!!
www.hbjcapital.com | Monday, January 19, 2009
Taurian Resources Private Limited, Mumbai, a Rs. 300-crore company, has recently won a contract which gives it exclusive rights over 3,000 sq. km. of the Sahara Desert known to be rich in deposits of uranium. According to the estimates of the Managing Director of the company, Sachin Bajla, the area is likely to hold at least 30,000 tonnes of uranium which, he says, “should be enough to meet India’s requirement for the next 1,000 years.”
Against huge odds, Taurian won a permit to search for uranium in the Arlit region of Niger for an undisclosed amount. Mr. Bajla says till he relinquishes nobody can take away this area earmarked exclusively for his company. He received the permit from Mohamed Abdoulahi, Minister of Mines and Energy for Niger, and also had an audience with Mamadou Tandja, President of Niger.
Anil Kakodkar, chairman of the Atomic Energy Commission “welcomed” the development but said that as of now the Government had little role to play as it was a “bold forward looking private venture.”
Interestingly, Niger is not a member of the Nuclear Suppliers Group, the 45-member nation that controls all nuclear-related commerce, and hence it should be easy for India to access the uranium once the mines become operational — this will take several years. There is also the possibility that the ground may not be that rich in uranium as is being envisaged. Today, Niger is the fifth largest supplier of uranium in the world — the refined form of this atomic element is also called “yellow cake.”
Mr. Bajla says, “I would be happy to meet India’s uranium requirement if the Government so desires.” He is also looking for Government support for his huge venture, having written about this to the Prime Minister.
Mr. Bajla says that to fully exploit the potential, an investment of at least $6-7 billion will be required. He hopes to raise money from the international market by listing his company on the London Stock Exchange. If uranium is indeed found by Taurian, the Government of Niger will also hold part rights over the sale of the mineral.
He says that as the region is very barren and a whole new township will have to be created.
In return for the permit, Mr. Bajla says he has promised the Government of Niger that his company will green one million hectares of land using the plant jatropha, a known source for biofuels. The Arlit region, where Taurian has secured its rights, is known for its unending sectarian conflict, but Mr. Bajla hopes to win the hearts and minds of the locals through appropriate social development of the region.
– Abhishek Sonu, Commodity Expert, HBJ Capital