Australia, India strike deal on uranium exports during PM Modi’s visit
East Africa News
India has long eyed Australia’s uranium to help meet a target of 100 gigawatts of nuclear energy capacity by 2047.
Australia and India have signed an agreement to export Australian uranium to India for use in the nuclear energy industry.
“We have signed an important agreement today on nuclear energy,” Indian Prime Minister Narendra Modi said on Thursday after talks with his Australian counterpart, Anthony Albanese, in Melbourne.
Regional Impact
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Analysis
“This will pave the way for uranium supplies from Australia to India and give our clean energy objectives fresh momentum.”
A joint statement said the arrangement allowed long-term uranium exports for “exclusively peaceful purposes”.
India has long eyed Australia’s uranium reserves, which make up around 28 percent of the world’s supply, to help meet a target of 100 gigawatts of nuclear energy capacity by 2047 while Australia is looking to diversify trade beyond its reliance on China, its top partner.
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