December 5, 2012

Australia to begin uranium sales to India after negotiations

Australia today said actual start of its uranium trade with India will depend on negotiations on the issue between the two countries.

"The question is when we get to the point of actually doing it depends on the way the negotiations between the two countries develop," Australia's Energy Minister Martin Ferguson said speaking at the fourth Australia-India Roundtable here.

He said ruling Labour Party's decision in December last year to open up uranium sales to India had a "major symbolic importance".

Australia's known uranium resources are the world's largest -- 31 per cent. In 2011-12, Australia produced 7,700 tonnes of uranium oxide concentrate.

The Australian Minister said India-US civil nuclear agreement was central to Australia's decision in opening up uranium trade with India.

Prime Minister Manmohan Singh and his Australian counterpart Julia Gillard had, during their meeting here in October, decided to launch negotiations for a civil nuclear pact.

The Economic Times

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