Australia:Russia To Get $1 Billion in Uranium
Australia: Russia To Get $1 Billion in Uranium
September 07, 2007 11 11 GMT
Australia will supply Russia with $1 billion worth of uranium, according to a deal signed by Australian Foreign Minister Alexander Downer and the head of Russia's federal nuclear power agency Sept. 7. The deal, signed on the sidelines of the Asia-Pacific Economic Cooperation summit, only allows Australian uranium to be supplied for the Russian civil nuclear power industry. It also lays the framework for further civil nuclear cooperation between the two countries, which could result in agreements worth some $3 billion for Russia's state-controlled nuclear equipment exporter Techsnabexport.
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Japan joins the fray with push to secure uranium supply
A PUSH by Japan to lock up access to secure uranium supplies will be a key part of a deal expected to be signed this weekend by Prime Ministers John Howard and Shinzo Abe.
Japan is already Australia's second largest uranium customer behind the United States but Mr Abe wants to negotiate a priority supply deal in the face of soaring global demand and prices for the nuclear feedstock.
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Ready access to uranium at predictable prices will be a competitive advantage for power plant manufacturers bidding for construction contracts in big growth markets such as India and China.
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https://www.news.com.au/heraldsun/story/0,21985,22375850-664,00.html