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After 123 agreement, Aussies set to sell Uranium to India

News18

First published: July 26, 2007, 11:31 PM IST | Updated: July 26, 2007
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After 123 agreement, Aussies set to sell Uranium to India
Australia holds the world largest known uranium reserves.

New Delhi: According to a report in The Australian newspaper quoting the Federal Resources Minister, Ian MacFarlane, Australia could sell uranium to India.

The minister was reported as saying that the National Security Committee of the Cabinet could take a decision soon.

Prime Minister John Howard had earlier refused to sell uranium unless India signed the Non-Proliferation Treaty. The changed stance comes after India and the US settled on the draft of the 123 agreement.

Australia holds the world largest known uranium reserves.

The Prime Minister is reported to have told colleagues that the public cannot understand why Australia exports uranium to China but refuses to export it to India.

India desperately needs assured supplies of uranium to provide fuel for nuclear reactors that will generate energy to drive its economic boom.

Macfarlane said India had agreed that any Australian uranium would be used only for the production of electricity, with inspections by the International Atomic Energy Agency.

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