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India and Australia Complete Nuclear Cooperation Agreement
World Nuclear News reported that the prime ministers of India and Australia announced that the bilateral nuclear cooperation agreement between the two countries is now complete.
World Nuclear News reported that the prime ministers of India and Australia announced that the bilateral nuclear cooperation agreement between the two countries is now complete.
As quoted in the market news:
Prime Ministers Narendra Modi and Malcolm Turnbull announced the completion of procedures, including administrative arrangements, for the India Australia Civil Nuclear Agreement in a meeting held on the sidelines of the G20 summit in Antalya, Turkey. According to a statement from the Prime Minister of India’s office, Modi thanked Turnbull and said the nuclear agreement was “a milestone and source of trust and confidence”.
The bilateral agreement was signed in September 2014 during a state visit to India by Tony Abbott, Australia’s prime minister at the time. The agreement will open the door for Australian uranium to be exported for use to fuel India’s nuclear power plants.
All of Australia’s uranium production – over 5000 tU in 2014 – is exported under strict controls to ensure that it is only for civilian use. Australia is a signatory of the Nuclear Non-Proliferation Treaty (NPT), but also requires any countries to which it sells uranium to put in place a rigorous bilateral safeguards treaty.
Earlier this year, Australia’s Joint Standing Committee on Treaties (JSCOT) recommended that the bilateral agreement should be ratified but urged that uranium sales to India should only begin after concerns about non-proliferation, nuclear regulation and safeguards had been addressed, including India’s establishment of an independent nuclear regulator.
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