Australia could start uranium sales to India – by Shivom Seth (Mineweb.com – July 22, 2014)

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Australian Trade Minister Andrew Robb told newspersons that Australian uranium sales to India were very close.

MUMBAI (MINEWEB) – With the International Energy Agency forecasting a doubling of nuclear power generation out to 2035, Australia has said it could soon start exporting uranium to India.

Australia holds about a third of the world’s recoverable uranium resources, and exports nearly 7,000 tonnes a year. Energy starved India is looking to nuclear power to supplement its existing options to fuel economic growth.

Australian Trade Minister Andrew Robb told newspersons that Australian uranium sales to India were very close, after he attended a G20 trade ministers meeting in Sydney last week, and held talks with an Indian trade delegation.

Prime Minister Julia Gillard had started talks on supplying uranium to India during a three day official visit to the country in 2012. Gillard had reversed the ban in 2011.

With a new government at the helm in Canberra in 2013, India and Australia were aiming to complete negotiations on a civil nuclear agreement for uranium supplies by the end of the year. In February this year, Australia’s foreign minister Julie Bishop had also told newswire agencies that the two countries were in the middle of their fourth round of talks for a civil nuclear cooperation agreement.

Australia has been looking for a non proliferation assurance from India, similar to the one it has from other customers like China.

Andrew Robb, incidentally, is continuing negotiations with Chinese officials on a free trade agreement for the supply of uranium.

India has already concluded civil nuclear cooperation agreements with countries like Argentina and Kazakhstan. The chairman of Kazatomprom, Kazakhstan’s National Atomic Company, recently told newspersons that the country plans to remain a world leader in uranium supply.

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