A uranium mining venture led by Kansai Electric Power Co said it will buy stakes in two exploration blocks in Australia in a bid to boost supplies of the ore.
The venture, 50 percent owned by Kansai Electric and 25 percent held by Kyushu Electric Power Co, will buy shares ranging from 20 percent to 25 percent in two uranium exploration areas in the state of South Australia, Kepco said Monday.
Exploration work will be conducted in the next four years, Japan's second-largest power utility said.