Australia Finalizes Nuclear Cooperation Agreement to Supply Uranium to UEA

World Nuclear News reported that Australia has finalized a nuclear cooperation agreement with the United Arab Emirates and will supply the Middle Eastern country with uranium for its nuclear power program.
As quoted in the market news:

The announcement today, by the office of Australia’s minister for foreign affairs, Julie Bishop, followed news last week that the Australia-India nuclear cooperation agreement had also been completed.
UAE minister of foreign affairs Sheikh Abdullah bin Zayed Al Nahyan and his Australian counterpart Bob Carr signed a cooperation agreement in the peaceful uses of nuclear energy in the summer of 2012. The accord was seen as potentially leading to the supply of Australian uranium to fuel the UAE’s forthcoming nuclear power reactor fleet.
The document set a framework for cooperation between the two countries in the peaceful uses of nuclear energy and facilitates future private sector uranium sales to the UAE. The agreement also covers conditions for the supply of nuclear material, components related to nuclear technology and associated equipment for use in a domestic power industry. It explicitly prohibits the use of Australian nuclear material in weapons.
In September, the Emirates Nuclear Energy Corporation (ENEC) received regulatory approval for the construction of two additional Korean-designed APR1400 pressurized water reactors – Barakah units 3 and 4. The licence from the Federal Authority for Nuclear Regulation (FANR) permits ENEC to construct the reactors, as well as to import equipment and technology exclusively for use in the project and to conduct activities related to the construction project, but not to operate the reactors. For that, the company must apply for a separate operating licence. According to FANR, ENEC is expected to apply next year for a licence to operate the first two Barakah units. Unit 1 is expected to come on line in 2017, with unit 2 following in 2018.

Click here to read the full World Nuclear News report.