[India, since the waiver granted by the Nuclear Suppliers Group (NSG) on Sept 6 2008 to be allowed (re)entry into the global nuclear market at the initiative of the US under Bush, understandably sewed up quite a few deals for import of uranium with a number of countries including Canada, Kazakhstan, Mongolia, Namibia, Argentina. So this is just an additional one.
And, quite significantly, Australia does not have a single nuclear power plant on its own soil. "The two Prime Ministers directed the negotiators to conclude the Administrative Arrangements pertaining to the civil nuclear pact at an early date. According to officials, it may take upto two years for India to receive the first consignment of uranium from Australia." (See: < http://economictimes.indiatimes.com/news/politics-and-nation/india-australia-ink-civil-nuclear-agreement-canberra-to-supply-uranium/articleshow/41809893.cms >.)] http://www.ft.com/intl/cms/s/0/894aa7cc-34c0-11e4-ba5d-00144feabdc0.html Last updated: September 5, 2014 4:57 pm Australia's Abbott strikes uranium export deal with India's Modi By Jamie Smyth in Sydney Australia's flagging uranium industry has said that a deal between Canberra and New Delhi approving the export of the nuclear material to India will help drive a nascent recovery in the sector. The agreement in New Delhi by prime ministers Tony Abbott and Narendra Modi provides access to a rapidly expanding market for producers such as BHP Billiton and Energy Resources of Australia, which is 68 per cent owned by Rio Tinto. Mr Abbott is the first world leader to be accorded a full state visit in New Delhi following Mr Modi's election victory in May, underlining the growing importance of ties between the countries. Trade between the countries has tripled over the past decade, reaching A$15.2bn (US$14.2bn) in 2013 as Indian demand for Australian coal and other commodities surged. Bilateral relations received a boost in 2012 when the former Labor government overturned a ban on sales of uranium to India, which is not a signatory to the nuclear non-proliferation treaty. Friday's deal follows the negotiation of safeguards to ensure all material is used in India's nuclear power industry rather than its weapons programme. Analysts estimate India has roughly 100 nuclear warheads. The Minerals Council of Australia, a lobby group, said the deal was a sign of a resurgence in the atomic energy sector. "A rebound in the global nuclear industry, led by demand from China and India, will see Australia's uranium exports grow from A$630m in 2013-14 to about A$1.1bn by 2019," it said. Australia has a third of the world's known uranium resources but provides just 11 per cent of global supply. It has a strategy to expand the sector following the repeal of bans on uranium mining in Queensland and Western Australia. But the global industry has stalled because of the halving of uranium prices following the meltdown of the Fukushima Daiichi nuclear power plant in 2011, which prompted Japan to shut down its nuclear programme and led to a global oversupply of uranium. The collapse in prices has prompted the mothballing of the Honeymoon and Beverly uranium mines in South Australia. In 2012, BHP Billiton shelved a multibillion-dollar expansion of its Olympic Dam copper and uranium mine in South Australia. UBS said this week uranium prices may finally have stabilised after three-and-a-half years of decline. "What we are looking for is a demand-side driver near-term," said Daniel Morgan, UBS analyst. "The longer demand picture looks great, driven by nuclear build in China as well as the US. The Japanese nuclear restart is a big catalyst." Tokyo wants to restart nuclear power plants to cut its reliance on fossil fuels. But it faces public opposition because of safety concerns following the Fukushima disaster. This week Australia banned uranium sales to Russia, citing the country's support for rebels in Ukraine - underlining the importance of securing alternative customers. According to the Minerals Council of Australia, of the 72 reactors under construction globally, about half are in India and China. "India is the world's emerging democratic superpower," said Mr Abbott. "This is an important sign of the mutual trust that exists between Australia and India." [Also look up: < http://economictimes.indiatimes.com/news/politics-and-nation/india-australia-ink-civil-nuclear-agreement-canberra-to-supply-uranium/articleshow/41809893.cms >.] -- Peace Is Doable -- You received this message because you are subscribed to the Google Groups "Green Youth Movement" group. To unsubscribe from this group and stop receiving emails from it, send an email to greenyouth+unsubscr...@googlegroups.com. To post to this group, send an email to greenyouth@googlegroups.com. Visit this group at http://groups.google.com/group/greenyouth. For more options, visit https://groups.google.com/d/optout.
