Australia considers selling uranium to India
Friday, 27 July 2007
SYDNEY, July 26 (AFP): Australia is considering selling uranium to India after New Delhi finalised a landmark civilian nuclear deal with the United States, the government said today.
Australia has the world's largest known reserves of uranium and has been under pressure from both New Delhi and Washington to sell the nuclear fuel to India since it agreed last year to supply rival Asian giant China.
But Australia has a policy of refusing to export uranium to countries which have not signed the nuclear Non-Proliferation Treaty and, while China is a signatory, India is not.
Howard and some of his ministers have indicated since last year, however, that the government might make an exception if the US-India deal went ahead.
Resources Minister Ian Macfarlane Thursday confirmed the government was now considering the issue, saying New Delhi had agreed the fuel would be used only for peaceful power generation.
"If a country is going to continue its economic development, as India is, its energy requirements will be substantial," Macfarlane told reporters.
"And rather than just rely on treaties, I think their actions are the things you need to take into consideration and India has an impeccable record in terms of non-proliferation.
"And there will be a very strict requirement in terms of its signing of the safeguard agreement."
The International Atomic Energy Agency would carry out inspections to ensure India complied with the terms of any deal, he said.
The agreement for the US to provide nuclear technology and fuel to India was finalised by the two sides in extended talks in Washington last week pending approval by government leaders.
Howard, a close ally of US President George W. Bush, is reported to be a strong supporter of the plan to sell uranium to India.
But the proposal brought immediate criticism from some opposition parties and environmental group Greenpeace.
"The decision to sell uranium to India breaks one of the only safeguards Australia and the world has to control what could easily become a global nuclear menace," said Greenpeace Pacific chief executive Steve Shallhorn.
Meanwhile, Global magnate Lakshmi Mittal is looking to build two steel plants in India for about 18 billion dollars which would be the largest ever foreign investment in the country, reports said today.
The investment by ArcelorMittal would eclipse the 12- billion-dollar steel plant South Korean rival POSCO plans to build in eastern Orissa state, the newspaper reports said.
The plans were announced after a meeting Thursday between Mittal and India's Steel Minister Ram Vilas Paswan here, the Press Trust of India said.
But "we have to have raw material linkages, land and other things in place" for the projects to go ahead, Mittal was quoted as saying after the meeting.
Australia has the world's largest known reserves of uranium and has been under pressure from both New Delhi and Washington to sell the nuclear fuel to India since it agreed last year to supply rival Asian giant China.
But Australia has a policy of refusing to export uranium to countries which have not signed the nuclear Non-Proliferation Treaty and, while China is a signatory, India is not.
Howard and some of his ministers have indicated since last year, however, that the government might make an exception if the US-India deal went ahead.
Resources Minister Ian Macfarlane Thursday confirmed the government was now considering the issue, saying New Delhi had agreed the fuel would be used only for peaceful power generation.
"If a country is going to continue its economic development, as India is, its energy requirements will be substantial," Macfarlane told reporters.
"And rather than just rely on treaties, I think their actions are the things you need to take into consideration and India has an impeccable record in terms of non-proliferation.
"And there will be a very strict requirement in terms of its signing of the safeguard agreement."
The International Atomic Energy Agency would carry out inspections to ensure India complied with the terms of any deal, he said.
The agreement for the US to provide nuclear technology and fuel to India was finalised by the two sides in extended talks in Washington last week pending approval by government leaders.
Howard, a close ally of US President George W. Bush, is reported to be a strong supporter of the plan to sell uranium to India.
But the proposal brought immediate criticism from some opposition parties and environmental group Greenpeace.
"The decision to sell uranium to India breaks one of the only safeguards Australia and the world has to control what could easily become a global nuclear menace," said Greenpeace Pacific chief executive Steve Shallhorn.
Meanwhile, Global magnate Lakshmi Mittal is looking to build two steel plants in India for about 18 billion dollars which would be the largest ever foreign investment in the country, reports said today.
The investment by ArcelorMittal would eclipse the 12- billion-dollar steel plant South Korean rival POSCO plans to build in eastern Orissa state, the newspaper reports said.
The plans were announced after a meeting Thursday between Mittal and India's Steel Minister Ram Vilas Paswan here, the Press Trust of India said.
But "we have to have raw material linkages, land and other things in place" for the projects to go ahead, Mittal was quoted as saying after the meeting.