India, Australia have sealed Nuclear-deal procedures for supply of uranium from later to energy starved India. Nuclear-deal procedures were formally completed between both countries following a bilateral meeting between the India’s Prime Minister Narendra Modi and his counterpart Malcolm Turnbull in Antalya, Turkey on the sidelines of the G-20 Summit. Following the conclusion of the agreement, India has become the 1st country to buy Uranium from Australia without being a signatory to the Nuclear Non-proliferation Treaty.
Background:
India and Australia had started talks on the Civil Nuclear Co-operation Agreement in 2012 after Australia had lifted long standing ban on selling uranium to energy starved India. The co-operation agreement was signed between both countries in September 2014 to sell uranium as a nuclear fuel for peaceful power generation. It should be noted that Australia has about a 40% of world’s recoverable uranium resource and annually exports around 7,000 tonnes of it. In India, nuclear energy contributes just 3 percent of its electricity generation and it has currently signed nuclear energy agreements with 11 countries.
Presently, India imports uranium from France, Russia & Kazakhstan to supply fuel to its 2 dozen small reactors at 6 sites with a total capacity of 4,780 MW which accounts for 2 percent of its total power capacity.
India, Australia seal N-deal procedures For Supply Of Uranium
