Lates News

During Indian Prime Minister Modi's visit to Australia, the two countries signed a milestone agreement agreeing for Australia to sell uranium to India for electricity generation. The Indian Ministry of External Affairs stated in a Thursday declaration that the uranium purchase by India will be "solely for peaceful purposes." The signing of the agreement comes as India is seeking to enhance its nuclear energy capacity. The statement did not provide details on how much uranium India will purchase or the specific timeline for the agreement. Australian Prime Minister Albanese stated at a joint press conference in Melbourne, "Today we are able to confirm the signing of administrative arrangements to facilitate uranium exports. This arrangement promotes Australian uranium exports to India to help increase the share of non-fossil fuel electricity generation and provide additional market for the Australian resources industry." Despite having the largest uranium reserves in the world, Australia currently only has three operating mines, all of which are located in South Australia.