As part of Rio Tinto’s plan to do more business with India, the company is in talks to sell the country its uranium.
But CEO Sam Walsh also flagged Rio’s intention of striking a uranium deal with the country.
Last year the Australian government announced a uranium supply deal with India and Walsh said once the proper processes are in place there is a clear opportunity “for us and Australia here”.
Rio owns Energy Resources of Australia's uranium mine in the Northern Territory.
Mining at the site has finished for now, but an expansion project called Ranger 3 Deeps is on track and expected to submit a pre-feasibility study by the first quarter of this year.
Mining and energy trade have dominated talks at the Australia Business Week in India over the last few days.
Reg Howard-Smith, the head of the Western Australia Chamber of Minerals and Energy said India was “hungry for energy”.
"With increasing urbanisation and a desire to reduce poverty and other societal issues this government has, then energy is obviously a key import."