The uranium imported from Australia will be used to cater to the power generation requirements in India.
Australia and India have signed a civil nuclear deal in September 2014.
Rio Tinto CEO Sam Walsh was quoted by The Hindu BusinessLine as saying, "The memorandum of understanding for civil nuclear cooperation was signed last year but there is still work that needs to be done on certain safeguards about the end use of the uranium.
"It is an elaborate process and though both sides are committed, I think it will take another year or two before we start exporting uranium to India."
Walsh said that the company is looking to bid for coal blocks in India.
Meanwhile, the London-based company is in negotiations with the Indian government for environment approvals to commence diamond production at Bunder project.
Rio Tinto also intends to set up an iron-ore operation in Odisha.
