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Australia likely to start supplying uranium to India from this year

Staff Writer |
Australia, the world's biggest uranium producer, is likely to start supplying the metal to India's nuclear power plants this year.

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This is after visiting Premier Malcolm Turnbull helps put in place the mechanism governing the trade.

The two countries had signed a civil nuclear deal in 2014 when former Prime Minister Tony Abbott visited India.

Thereafter, Australia put in place a safeguards agreement and last December passed the legislation to start supplying uranium to India, a trade viewed as the cornerstone of a bilateral strategic partnership.

The hint of uranium sales to India came from none other than Turnbull, who would be in the country between April 9 and 12.

"My first visit to India as Prime Minister is a chance to further cooperate across a wide range of sectors, including energy, education and trade.

"But there are many more opportunities. India wants to provide energy security through a range of technologies, including nuclear, clean coal, natural gas and renewable energy.

"Australia is well placed to provide many of the raw materials, and some of the latest technology," Turnbull said in a Sydney Institute speech on Thursday ahead of his trip to India.

Besides nuclear energy, defence ties will be high on the agenda of the talks Turnbull will hold with his Indian counterpart Narendra Modi next Monday: Australia is willing to rejoin the Indo-U.S.-Japan trilateral Malabar Naval exercise, eyeing to play role of a stabiliser in the Indian Ocean Region, according to people familiar with the developments.

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