RIL inks JV with UXA Resources for uranium exploration

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

Choose Stock Exchange: BSE LIVE NSE LIVE

26 Aug, 2025 12:21

Volume

Todays L/H

More

×

Reliance Industries has formed a joint venture with UXA Resources for uranium exploration and drilling, reports CNBC-TV18. A RIL subsidiary called RIL Australia (RILA) Pty has inked the JV with UXA Resources. UXA on its part has secured a drill rig and has acquired all necessary heritage clearances. The joint venture further says that exploration and drilling will commence at Nabarlek in mid August 2011. It specifies that RILA will  hold 49% interest in the licences and will contribute 49% of exploration funding.

This is the second positive news that has come up Mukesh-Ambani-led Reliance Industries; the first one being clearance of its deal with British Petroleum. SP Tulsian, who has been tracking the company, told CNBC-TV18 that the two news will add Rs 23 to RIL stock price on Monday.