To boost the mineral supply chain and reduce uranium import dependence, India is likely to open its thorium sector to private companies. Policy discussions are currently underway to formalise this framework, according to a report by The Economic Times.
The report further states that finalisation of the policy is expected to be drafted after consultations with stakeholders, including the ministries of power and mines.
As per proposals under discussions, private companies will be granted limited access to commercially mining access to monetise coastal sands for thorium extraction. The government also aims to accelerate research and development, cut the time needed to convert thorium into usable uranium-233, and guarantee a steady domestic fuel supply for its nuclear programme.
Thorium is a vital element in India’s three-stage nuclear power programme and its conversion into uranium-233 provides the essential fissile material required for power generation. Moreover, this initiative will potentially strengthen India's indigenous nuclear fuel cycle.
