...The Prime Ministers of India and Australia have instructed their respective negotiators to work out ‘the administrative arrangement’ as soon as possible. Only after signing the contractual agreements, the Australian supply of uranium may come to India. The contractual agreement may incorporate the price, the period of supply, the form of uranium and other relevant details. India wants to diversify its uranium supply, and it is strategically important to have diversified suppliers. This helps in not only getting access to the uranium market for procuring the material on reasonable price but also to have an uninterrupted supply of uranium for its existing and new nuclear plants. India has already planned to build a uranium stockpile. Currently, Australia is considered to have the largest reserve of recoverable uranium. In the coming years, too, its dominance appears unchallenged. The World Nuclear Association and the Australian government both inform that Australia ranks third in terms of production of uranium. Kazakhstan and Canada produce more than Australia. If it opens new mines, which it is planning to do, its production may easily increase, and possibly, it will become the top producer within a few years. Australia produces uranium basically to export as it does not operate any nuclear power plant. So, Australia may be the most important uranium supplier to India. idsa.in/idsacomments/StrategicSignificanceoftheIndiaAustralia_rnayan_150914.html
Posted on: Mon, 15 Sep 2014 06:35:28 +0000
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