Australia Lifts Uranium Mining Ban, India Eyes Exports

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

Click here to read the full Reuters report.