Reuters reported the Queensland, Australia government has lifted a uranium mining ban as it considers exporting the yellowcake to India.
As quoted in the market news:
The Australian state of Queensland lifted a 23-year ban on mining uranium on Monday, following a push by Australian Prime Minister Julia Gillard to reach an accord to export supplies to energy-hungry India.
Australia, with no nuclear power plants of its own, is already one of the world’s top exporters of uranium mined in other states and territories.
The Australian and Indian prime ministers held talks last week for Australia to sell uranium to India after Australia signaled it will end its block on exports. India needs uranium for its expanding civil nuclear power programme
Peninsula Energy (ASX:PEN) is set to be the ASX’s next uranium producer. Its flagship Lance Projects in Wyoming is headed towards production in 2015, with purchasing contracts secured for 2015 to 2024.Connect here and don't miss their next catalyst!Learn More