Uranium supply to India to be demand based: Australia

Australia's uranium supply to India will be require based once the approvals for the yellow cake exports to New Delhi are finalized, Energy Minister Martin Ferguson has said.

"It (uranium supply) will be require based. The supply once accepted for exports will be of a commercial nature between the Australian uranium and mining industry and potential customers in India," Ferguson told PTI.

Asked when the uranium exports will begin, Ferguson said We don't put a timeframe. This is about a negotiation of a manufactured goods between Australia and India.The issue is to get it right to supply negotiations and to make sure that we take the individual community with it in terms of their confidence concerning the fact that the uranium will be used safely.

Selling uranium to India, responsibly

Prime Minister Gillard's announcement that she will seek a modify in Labor's platform to permit uranium exports to India is problematic for Australia's non-proliferation policy and reputation. I share the concern about the obvious failure to extract anything from India in return for a major policy shift, and the implication that uranium exports to India will soon develop into the law as soon as ALP policy has been changed, without the due process frequently reserved for changes of policy of this magnitude.

But let's not throw our hand up in the air just yet. A change in ALP policy is the backing a Gillard Government will need previous to any negotiations can commence with India, negotiations which might yield net reimbursement to Australia's non-proliferation agenda.First, the proposal to modify decades of Australian policy on which countries we sell uranium to is not entirely capricious. There are some sound policy reason for exporting uranium to India, mainly strategic and environmental: India is a rising power with which we should found a strategic relationship. As thoroughly irksome as this is, India has made it clear that the value of a closer relationship is right to use to Australian uranium.

India's energy needs are insatiable and Nuclear energy will help limit the damage to the global environment from its growing energy use. The world also needs India to be an lively participant in the fight against proliferation and in running emerging nuclear tensions in its region. As it is not and never will be a member of the NPT, other mechanisms for as well as India in these efforts are needed.

Australia's uranium industry poised for growth

Global demand and prices contain fallen in the aftermath of the radioactive leaks at the power plant in Fukushima in March.However, a push by the Australian Prime Minister, Julia Gillard, to sell radioactive fuel to India has boosted hopefulness in the industry. Australia supplies about 13% of the world's uranium, behind Canada and Kazakhstan, but covered in the red dust of the vast outback lies an estimated 40% of the world's known coffers of this valuable yet controversial commodity.

Simon Clarke, from the Australian Uranium Association, told the BBC that the sector had taken stock of the awful events in eastern Japan and was ready to move on. "Fukushima caused the global nuclear industry to pause and to be trained the lessons from that accident," he said.

"I think it is robust sufficient to bounce back. The fundamental reasons why countries opt for nuclear energy as parts of their electricity generate portfolios haven’t changed. Many countries still see nuclear energy as a safe and reliable source of electricity."Prof Tony Owen from the School of Energy and Resources in Adelaide believes that while the global industry still faces uncertainty, the extend of nuclear power is likely to increase.

Italy's 'non' vote hits uranium explorers

AUSTRALIAN uranium explorers have endured yet an additional bad day of trading, with confidence in the nuclear power sector additional injured by political developments in Europe. Italy has joined Germany and Switzerland in rotating its back on nuclear power, after a public referendum on Monday voted to rescind laws that meant to revive Italy's nuclear industry. Introduced in 2009, the laws were the initial step in plans to have 25 per cent of Italy's electricity complete by nuclear power by 2030.

But concerns over the current nuclear meltdown in Japan prompted more than 90 per cent of Italian voters to dispose of nuclear power, just as they did at a referendum in 1987 following the Chernobyl nuclear meltdown. Several ASX-listed uranium explorers observe their share price fall on the news, with Paladin Energy diminishing 18¢ to $2.61 and Energy Resources of Australia falling 21¢ to $4.04.

Falls were also record by Toro Energy, Extract Resources, Marathon Resources, Marengo Mining and Bannerman Resources. Many of individuals companies have watch their market capitalization more than halve because the Fukushima disaster in March.Energia Minerals - whose share cost fell 1¢ to 9¢ - will be directly precious by the Italian decision given the company's plan to expand two uranium projects in the Lake Como region of northern Italy.

Australian uranium developers could service global provide weakness

The world is intense more uranium than it can produce and could expression a global shortfall of 400-million pounds a year by 2018, Australian uranium explorer Marmota Energy said on Friday. Chairperson Bob Kennedy said that Australian uranium developers should move to expand a pipeline of uraniummines in order to increase their possible to service that supply weakness. The continued urbanisation of China and India in particular, would drive require in the future, for a wide variety of commodities, with uranium predictable to feature prominently in the mix.

“Shortfall in supply is likely to result with the drop off in uranium exploration globally due to the belongings of the recent global financial crisis. It will be unlikely that this deficit will be met, leaving significant chance for further spot price rises, as has been seen over recent months,” Kennedy said. He told shareholders at the company’s annual universal meeting that Marmota was “well located” to secure leverage from the supply demand imbalance, particularly as the spot price sustained to firm. The company’s flagship uranium project is the Junction Dam greenfield detection on the border between South Australia and New South Wales.

The company was currently assessing the suitability of results from the Junction Dam forecast to determine a preliminary incidental resource, and would start phase three of its drilling programme in March next year. Another Australian uranium developer, Toro Energy, lately said that the country had the possible to be the world’s main uranium producer in the next decade, surpass Kazakhstan and Canada as the main suppliers. Toro Energy MD Greg Hall stated that former eastern bloc countries, which explanation for more than 40% of global primary uranium supply, would not be capable to satisfy future demand, mainly from Asia-based power utilities.

Pledge to trade uranium to Russia, not India, 'hypocrisy'

Julia Gillard and her Russian counterpart, Dmitry Medvedev, swap notes in Seoul on Thursday night ahead of the G20 meeting, permit for Australian uranium to be enriched in Russia and use in its nuclear reactors. The agreement will help Russia to meet its increasing energy needs as it seeks to decrease its greenhouse emissions by diversify its energy sources and changing away from a reliance on fossil fuels," the Prime Minister said. Opposition capital spokesman Ian Macfarlane welcomed the announcement but added that if the government required helping other nations cut greenhouse gas emissions, "one of the most effective things it could do would be to consent to export uranium to India for use in electricity generation".

Coalition foreign relationships spokeswoman Julie Bishop said it was "highly insensitive" of Ms Gillard to make the statement on the sides of the G20 assembly when the Indian Prime Minister was also in Seoul. "The result to announce Australia will supply uranium to Russia while keep a ban on sales to India expose the hypocrisy of Labor's stance on uranium exports," she said. "Julia Gillard has efficiently said at the G20 meeting that the government trusts Russia to use our uranium for peaceful reason but that it doesn't trust India." The Greens spokesman on nuclear matters, Scott Ludlum, explain the announcement as "a disappointment", saying the government had gone beside 2008 advice from a House of Representatives group by selling to Russia.

"Trade Minister Simon Crean said at the occasion that the government and the International Atomic Energy Agency were fulfilled safeguards are in place to ensure the uranium is not used in weapons, but the IAEA has not inspected Russia for approximately a decade," Senator Ludlum told The Weekend Australian. Australian National University lecturer in international relations Michael McKinley said while the choice would offend India, that country was not a party to the nuclear Non Proliferation Treaty, unlike Russia. "If Russia is to be regard as part of the responsible global community, why not sell them uranium?" Dr McKinley asked.

Russian uranium contract job creator: Gillard

Prime Minister Julia Gillard says a deal to sell uranium to Russia under harsh safeguards will create jobs, as world leaders grapple with a stressed global economy. Ms Gillard and Russian President Dmitry Medvedev on Thursday met on the sidelines of the G20 leaders summit for a service to seal an contract on nuclear energy. Australian miners have been able to trade uranium to Russia since 1990 but only to be process in that country on behalf of third countries and not for nuclear power in Russia itself. The deal is in line with present agreements with the US, China, Japan and South Korea.

"The agreement will help Russia to meet its increasing energy needs as it seeks to reduce its greenhouse emissions by diversify its energy basis and shifting away from a reliance on fossil fuels," the prime minister said. "It will enlarge export opportunities and create jobs for Australia's uranium suppliers and consolidates Australia's position as a reliable supplier of energy resources." Ms Gillard said the contract met all of Australia's and the International Atomic Energy Agency's nuclear safeguard. Mining industry figures are speculated India may be next cab off the rank but only if it decides to sign the nuclear non-proliferation treaty, which is a necessity to import Australian uranium.

US President Barack Obama, who is also presence G20, this week backed India's membership of the Nuclear Suppliers Group, which need strong export safeguards. The issue is likely to be a topic for discussion when Indian Prime Minister Manmohan Singh visits Australia late next year. About 10,500 tonnes of uranium is export from Australia's three mines each year, worth around $1.1 billion. Ms Gillard spent the day in the lead-up to Thursday night's official leaders welcome presence a Remembrance Day service at Seoul's national war memorial, meeting with Canada's Prime Minister Stephen Harper and address business leaders.