Australia Set to Export Uranium to India by 2017?

Rio Tinto believes it will be exporting Australian uranium to India by 2017 as the country looks to increase its use of nuclear power in electricity generation.

According to Reuters:

Indian Prime Minister Narendra Modi, who took office in May, aims to raise the share of nuclear power in electricity generation from just 3 percent, as part of a strategy to curb chronic power shortages and cut reliance on oil imports.

Modi and his Australian counterpart Tony Abbott sealed a deal in September for Australia to sell India uranium, in a show of international acceptance toward India’s nuclear programme.

Sam Walsh, chief executive of Rio Tinto, said in an interview with Reuters:

Once all those steps are in place, clearly there is an opportunity for us and Australia here.

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