Monday, September 04, 2006

Uranium exports to China could start in 2007.

A joint parliamentary committee has heard that it is possible Australia could start exporting uranium to China as soon as next year.
The Joint Standing Committee on Treaties is examining two agreements with China on the transfer and safeguard of nuclear material.
John Carlson from the Department of Foreign Affairs and Trade says the agreement could pave the way for Australia to sell about 2,500 tonnes of uranium a year to China for power generation.
"How quickly uranium then transfers into China really depends on commercial arrangements, and whether the uranium bought will be processed in other countries before going to China or will go directly to China for processing," he said.
"In principle we could have uranium going into China in the first half of next year, but that's speculative."
Mr Carlson says, based on current prices, the sales could be worth $250 million

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