ONGC to foray into uranium mining
Published on: July 28, 2008 at 19:10
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ONGC board has approved entering into a Memorandum of Understanding with Uranium Corporation of India Ltd (UCIL), for exploration and exploitation of uranium, the official said.
This collaboration with UCIL is to leverage ONGC's expertise in exploration of hydrocarbons to commercially exploit this vital and strategic mineral, he added.
Currently, ONGC is passively studying the prospects through ONGC Energy Center (OEC) by studying the logs of existing wealth.
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In India, gold is considered as one of the prestigious instruments of investment among the household consumers. Small household units are now becoming potential investors for gold from the key consumers. The demand for consumption purpose is no longer the main driver of demand for the yellow metal, but the systematic investments in retail gold investment options is the latest crush among the small investors in the country. 
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